Analysis: Illinois Economy on an Upward Trend

The U.S. Department of Labor reports Illinois’ economy contracted by 4% in 2020, but things appear to be on an upward trend. The state of Illinois is growing at its fastest pace since 1981, according to a University of Illinois economic index. Economist Fred Giertz’s Illinois Flash Index shows the state’s growth rate traversed the line that divides contraction and expansion. That’s a year after a sharp decline of economic activity following the pandemic and the government’s response closing businesses.