There is another glimmer of hope in the economy in Illinois. Illinois’ Flash Index, compiling consumer spending, corporate earnings, and personal income, remains above 100, dropping from September’s 107 to 106.9 in October.
The news comes against a backdrop of continuing deadlines, from the fiscal cliff to the government shutdown to the cutback in SNAP benefits.
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“It’s always something,” says University of Illinois economist Fred Giertz says, author of the Flash Index.“The economy, compared to four years ago, is much better, but not back to where we want to be. Stronger growth, but, obviously, no one knows the answer (to long-term economic health); if they did, they’d be putting it into effect.”
The big retail season may as well be on now; Giertz says there are only so many dollars to spend, and retailers want to grab them before their competitors do.