The Illinois economy is growing, but not fast enough. This is according to University of Illinois economist Fred Giertz, publisher of the Flash Index. The index is at 102.9 this month, up from 102.7 last month, indicating not only economic growth but that the growth is gaining steam.
Click Here for Summary
Giertz says at this stage, though, we should be seeing better results. “Usually after a recession, the economy tends to bounce back. You want that recovery to be relatively strong, so compared to the typical stage of an economic recovery, the 102.9 is not very good,” he said.
The current figure is a post-recession high, and the fifth month in a row showing economic growth, but Giertz says it isn’t enough to eat into the unemployment rate of 8.7 percent.