CHAMPAIGN — Some six years after the recession officially ended, Illinois economy has yet to get into third gear.
The scale on which a number greater than 100 is growth, the University of Illinois Flash index, is now 106.1, up three tenths of a point from last month and following three months of decline.
“Contrary to what people may perceive, the US economy, and (that of) the state of Illinois, is actually doing pretty well, especially in comparison to the rest of the world,” says economics professor Fred Giertz, the study’s author. “It’s just sort of bumping along here: a slight increase, but no major change.”
Giertz compiles the index based on retail sales, personal income, and corporate earnings. He says so far the lack of a state budget has not had an impact on the numbers he studies – but it will eventually.