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Illinois Economy Grows Slowly in January

Illinois Economy Grows Slowly in January

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By one measure, Illinois’ economy keeps growing.

University of Illinois economics professor Fred Giertz takes the corporate earnings, consumer spending, and personal income, and comes up with the monthly Flash Index, ending January at 107.2, up from 107 even a month earlier.

“107 means the economy is growing pretty well,” says Giertz. “It seems to be the same story almost every month. The economy is growing, but we’re not growing as fast as the rest of the country. The unemployment rate is coming down, but it’s still quite a bit higher than almost every other state.”

The gross domestic product, Giertz says, is moving just enough to try to keep the jobless numbers down, and that unemployment rate is going down, but is still higher than the national average.

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