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Flash Index Shows Soft Illinois Economy

Vicky Hugheston
/
Creative Commons

Economic growth continues its slowdown, according to the University of Illinois Flash Index.

The measure of the state’s economy based on state tax receipts produced a reading of 104.7 in April. That’s the second month of consecutive declines, and the lowest reading since December of 2012.

U of I economist Fred Giertz says the economy has slowed nationwide, but that Illinois’ economy seems to have slowed even more.

He points to a widening gap between the national and state unemployment rates.

"A year ago, Illinois’ unemployment rate was only about less than half a percentage point above the national average, and seemed to be closing the gap. But today, a year later, the national unemployment rate has fallen by about half a percentage point, and the Illinois rate has gone up. So now the differential’s about one and a half percentage points,” said Giertz.

Giertz says it appears likely that the budget impasse in Springfield is contributing to Illinois’ economic slowdown, but it’s impossible to document the cause.
 

WGLT Senior Reporter Charlie Schlenker has spent more than three award-winning decades in radio. He lives in Normal with his family.
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