Illinois Economy Closes 2017 With Slow And Steady Growth
The Illinois Economy ended 2017 on a familiar note of slow and steady growth.
The University of Illinois Flash Economic Index for December fell one-tenth of a point, to 104-point-one. Anything over 100 indicates the economy is growing.
Fred Geirtz, U of I economist, says the state’s economy showed slow and steady growth throughout 2017. "It finished pretty much the same as it did the year. It was a very stable year despite the fact that there was turbulence in politics and things of that sort," he said.
While admitting it’s difficult to prove, Giertz thinks the state economy would be doing even better, if Illinois were more politically and financially stable.
"The bad news is it could have been a lot better and the good news is it could have been a lot worse. So, I think we’re moving along all right and maybe things will start growing faster in the new year."
He says while the Illinois economy is growing, it is lagging behind the national economy.
The Flash Economic Index measures the state’s economic health by averaging state tax receipts from corporate earnings, sales and personal income.