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Expert Says No Recession in Illinois Yet

Illinois' economy keeps growing, but the growth rate keeps slowing.


That's according to this month's Flash Index, published by the University of Illinois. Any reading over 100 indicates economic growth, and the April number was 102.8.


The month prior it was 103.4, which means the rate of growth is slowing.


U of I economist J. Fred Giertz says even though the state technically isn't under a recession.  He says there's not really much of a difference between a mild recession and what Illinois is in right now.  He says if the index had gone down rather than up last month, then that would have been considered an actual recession


Giertz says some regions and industries certainly are in recession. But overall, he says, the economy is resilient and still growing.


The Flash Index is what Giertz calls a weighted average of growth rates in corporate earnings, consumer spending, and personal income.

05 04 08 by Newsroom
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