The Flash Index of the Illinois economy dropped half a point in September to 106.0. That’s the lowest level for the Index in 14 months.
University of Illinois economist Fred Giertz compiles the Flash Index from Illinois tax receipts. He says it’s too soon to know if the September drop is a one-time thing, or something worse.
“This decline suggests the economy may be slowing slightly. But the Index is still well above 100, which is the dividing line between growth and contraction. So, again, it’s not good news, but it doesn’t mean that we’re headed down. It just means we’re not growing quite as fast as we were before.”
Giertz says the Illinois economy could be slowed by uncertainty over economic problems in Europe in China --- and Illinois’ own state budget impasse. On the other hand, he says the state’s economy has benefitted from continued decreases in unemployment.