Illinois Flash Index Rises

Illinois’ economy is showing continued signs of stability. The Illinois Flash Index rose from 101-point-5 in September to 101-point-7 in October, signaling stronger state revenues and a slightly improved labor market. The index tracks growth in corporate earnings, consumer spending, and personal income through tax receipts from corporate income, individual income, and retail sales. Fred Giertz, professor emeritus at the University of Illinois’ Institute of Government and Public Affairs, says October unemployment improved slightly, while inflation-adjusted revenues gained compared with a year earlier. He says Illinois and the U.S. economy have remained remarkably stable despite uncertainty and economic pressure.