Slow Recovery for Illinois’ Economy
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ILLINOIS (IRN) – The Illinois economy continues its recovery.
That is according to the University of Illinois Flash Index, now at 102.7, up from 102.0 a month ago. This is four months in a row that the index has shown economic growth, and it’s as high as it has been in four years.
But all is not swell, says economist Fred Giertz, who compiles the index. “It’s kind of a good news-bad news. The good news is we’re above 100, we’ve been growing, the highest in four years. But in a normal recovery, we’d be much higher than we are right now,” he said.
Giertz says the index looks good compared to where it was during the recession, but it’s not good compared to times of economic boom, and with unemployment still over 8 percent, people are uneasy.