Despite Illinois’ problems, economic growth continues at a slow but steady pace.
That’s according to the Flash Index of the Illinois economy, which measured that growth at 104.4 for June, down from 104.6 in May. Any number above 100 on the Index reflects a growing state economy.
University of Illinois economist Fred Giertz says the rate of economic growth in the state has stayed about the same for the past year or so --- something he finds surprising …
“Because there’s been a lot of instability in regard to the political activities, both in the state of Illinois, the US and also the world. So it’s kind of an anomaly when the economy is much more stable and in some sense predictable than the political center.”
Giertz compiles the Flash Index from Illinois state tax receipts.
He says the Index has stayed in the 104 to 105 range for the past 12 months --- despite state budget problems that might pull it down, and national economic growth that could push it up.