Illinois Economy Lags Behind Nation
The University of Illinois Flash Economic Index is at its lowest level in five years. The October number clocked in at 103-point nine, down three-tenths of a point from September.
Anything over 100 shows the state’s economy is growing. But U of I economist Fred Giertz says the nation’s economy is growing faster. "We’re still doing well in a sense of moving forward but not as fast as the rest of the country," Geirtz explained.
Geirtz thinks the state needs to get its finances in order and address infrastructure needs in order to speed up economic growth. "Getting our fiscal house in order and dealing with infrastructure issues can be helpful," he added.
The Flash Index is a weighted average of Illinois growth rates in corporate earnings, consumer spending and personal income.