The Illinois economy is at its highest level in nearly a year.
The U of I’s Flash Index measured 106.8 in January, up four-tenths of a point from the month before.
The Index rose to 107 last winter. But since then, economist Fred Giertz says the state’s economy measured in the 106 range.
"And that might appear to be a bad sign, but actually it’s a good sign. Because when the Idea is above 100, it means the economy is growing. So we’ve reached this kind of steady-state situation, where we seem to have reasonably good growth now for some time." --- U of I Economist Fred Giertz
Giertz says one result of this steady growth is a decline in the unemployment rate. At 6.2 percent, it’s still higher than the national rate, but falling faster.
The Flash Index is based on sales, corporate and individual income tax receipts.
Giertz says adjustments were made to their calculations to compensate to the recent reduction in income tax rates.
