Flash index falls for second month, but state's economy doing well
URBANA — The University of Illinois flash index fell for the second month in a row in November, but the economist who compiles it says the Illinois economy is still doing well.
"Illinois' economy is expanding at a moderate, steady rate," said J. Fred Giertz, who compiles the index for the UI's Institute of Government and Public Affairs. "The reading is still well above 100, which is the dividing line between growth and decline."
The index fell to 106.5 in November, down from 106.9 in October and 107 in September, according to a release from the institute. The September reading was a post-recession high.
The statistic — a weighted average of growth rates in corporate earnings, consumer spending and personal income in Illinois — is considered a barometer of the state economy.
Two components of the index — individual and corporate income tax receipts — were down from the same month last year, when adjusted for inflation.
The third component — sales tax receipts — was up slightly, when adjusted for inflation.
The index has been in the 106 to 107 range for the past six months.