The Illinois economy is looking up a bit, according to the University of Illinois Flash Index. Economics professor Fred Giertz says the index ticked up from 106 to 106.2 for May. A number greater than 100 means growth. The index calculates personal income, consumer spending, and corporate earnings.
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The summer vacation season could reflect elevated consumer confidence. “There was an increase in estimated Memorial Day travel,” says Giertz, but “I think it’s going to be a modest and steady” increase in discretionary spending. Giertz says the nation’s sluggish first quarter can be blamed on the weather.
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