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Index Shows Less Contraction in Economy
The economic recovery, such as it is, is making progress -- according to the University of Illinois' Flash Index. The index is a weighted average considering corporate earnings, consumer spending, and personal income.

The index for November is 91, up from 90.7 in October. Anything above 100 means the state's economy is growing. So while the economy is still contracting, it's not as bad as before. The September index was 90, the lowest since September 1983’s 86.9.

Professor Fred Giertz, who compiles the index for the U of I's Institute of Government and Public Affairs, says in technical terms, the recession is over -- because the indices are growing. But, he adds, it will be a long time before unemployment rates come down.

(Illinois Radio Network)
12 03 09 by Newsroom
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