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Flash Index Slightly Improves Again
(IRN)-The Illinois economy is recovering, one millimeter at a time.

The University of Illinois Flash Index crept forward this month to an estimated 94.2, up from 93.8 in November, says economist Fred Giertz, the Flash Index author.

"There's probably not going to be a quantum leap where it goes back to 100 right away," he said. "It'll probably go up in jumps of half a percentage point or maybe a percentage point but probably no more than that."

A reading below 100 represents economic contraction, over 100 shows growth. The increase this month means that the Flash Index has gone up for six months in a row. The recessionary low of 90.0 was reached 14 months ago.

This month's figure is an approximation, though, because the state brought in extra tax revenue in November via an amnesty program, for which an adjustment was made without an exact dollar figure. Giertz says once the state announces exactly how much came in via amnesty, vs. the amount that came in through normal economic activity, the index will be revised if necessary. Giertz says without the adjustment in recognition of November’s unique circumstances, the index would have risen to 99.0, but it would not have served its purpose of being a pulse of the state’s level of economic activity.

(Illinois Radio Network)
12 02 10 by Newsroom
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