The pace of growth in the Illinois economy is accelerating. This is according to the University of Illinois Flash Index, which turned the corner a month ago into economic growth, the 100 mark, and now rises from 101 to 101.9.
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Economist Fred Giertz on whether this is a strong result: “The question is what to compare this with. If you compare the last two months with the last three years or so, things look pretty good. If you compare the last two months with other periods in the same time pattern in terms of months after the end of a recession, we’re moving along pretty slowly,” he said. The index doesn’t take into account unemployment, which Giertz says is higher than we’d like, but he does expect that to be resolved, eventually. The Flash Index hit its recessionary low of 90 in October 2009, and then has risen to this point, with increases in 25 of the 29 months since then.