A University of Illinois economist says Illinois is nine years into an economic expansion. However, he says the state may see an economic downturn in the next few years. Daniel Baker reports.
Economist J. Fred Giertz says his latest Flash Index, a measure of Illinois’ economic health, rose in April to 104.7, its highest level in 20 months. He says expansions don’t last forever, and that it can be hard to read the warning signs when the state economy is due for a decline.
Fred Giertz: “The worst recession we’ve had since World War 2 occurred from 2007 to 2009, and we didn’t even know we were in the recession until about a year after it actually started.” Giertz says.
Giertz says his Flash Index shows the Illinois economy has been growing steadily since that last recession ended nine years ago. He says historically, expansions have lasted for about five to seven years.
The U of I’s Flash Index provides a monthly snapshot of the Illinois economy going back to 1981.
