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Flash Index Indicates Slow Recovery in IL
(IRN) -- The economic comeback in Illinois and the nation is not a speedy one. But a University of Illinois economics professor says it's there.

Fred Giertz, who compiles the Flash Index for the U. of I. Institute of Government and Public Affairs, says the weighted combination of consumer spending, personal income, and corporate profits went from 96.8 to 97.8 over the past month. A number greater than 100 indicates growth.

Giertz says the economy is not creating new jobs fast enough to accommodate both the people already out of work and the new graduates entering the workforce.

And Giertz says those $3.60 gas prices may be a problem, "but it's not a recession problem." He suggests a more robust economy would push the price of a gallon of gasoline to $4.25.

(Illinois Radio Network)
07 02 11 by Newsroom
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