University of Illinois Flash Index Shows Economy Remains Stable
The Illinois Flash Index remains steady this month at 105.2. Any number over 100 indicates economic growth for the state, while any number under 100 shows economic contraction.
University of Illinois economist Fred Giertz said this is an expected outcome for the state economy because it mirrors the national economy.
"Economies tend to be fairly stable and tend to follow a pattern," said Giertz. "This is the pattern we’ve been in for some time now. A bigger reason, very likely, is the fact that the economy at the national level is moving ahead at a fairly steady pace and we’re following that."
Giertz said the index is just a snapshot, not a predictor. But he said he expects similar growth for the next quarter.
"The economy is growing at a fairly good pace, so probably a continuation of where we have been the last couple months is the best prediction for future months," Giertz said.
The Flash Index is a weighted average of Illinois growth rates in corporate earnings, consumer spending and personal income.