Illinois’ economy is in the slow lane, says the author of the University of Illinois Flash Index.
The measure of economic growth – or contraction – is a weighted average of personal income, corporate earnings, and consumer spending, with 100 the break-even mark between growth and contraction.
The Flash Index for June is at 106, down from 106.2 in May. It’s been stuck between 106 and 107.2 for the past year, says economics professor Fred Giertz.
“I think it’s partially an aftermath of the winter,” says Giertz. He also points to the second revision of the GDP, showing an unexpected decline in the nation’s economy in the first quarter.
As for which gubernatorial candidate would make Illinois’ economy better, “it is hard to argue that what is going on in the state has some bad effect … but people have to decide for themselves which of the candidates will bring us back. And, clearly, it’s not an easy task; if it were, we would already be improving.”