News

Illinois Economic Index Shows Growth

Illinois Economic Index Shows Growth

Photo: Newsradio WTAX

A University of Illinois index shows the state’s economy continues to grow as it bounces back from the harsh winter.

The university’s Institute of Government and Public Affairs said Friday that its U of I Flash Index rose slightly in July to 106.2. Any reading above 100 indicates growth. The index has been at or close to 106 for four months.

Economist Fred Giertz compiles the index using corporate earnings, consumer spending and personal income data. He said the question now is whether the momentum will continue through the year.

Illinois’ economy has shown signs of strength over the past few months. Unemployment fell to 7.1 percent in July. That’s still a full percentage point above the national average but the lowest point for Illinois’ unemployment rate since 2008.

 

Recent Headlines

in Music

Fans, family mark 20th anniversary of Jerry Garcia’s death with #RippleEffect

Fresh
20-overlay1

The daughter of late the Grateful Dead frontman has launched a global art project to honor her father.

in Music

Judge dismisses Kurt Cobain death scene photos case

Fresh
francesbeancobain

A judge in Seattle has dismissed efforts by a TV host to release photographs of Kurt Cobain's death scene.

in Music

AC/DC’s Rudd remanded on bail for breach of home detention rules

Fresh
22-overlay

The troubled former drummer was remanded on bail by a New Zealand court for breaching the conditions of his home detention.