The Illinois economy is showing signs of life. The University of Illinois Flash Index jumped to 98.7 this month, up from 98.3 last month – still short of the 98.8 figure published at the start of October. Economist Fred Giertz says there are indications of a recovery gathering strength, including good numbers regarding holiday spending, and an improving employment picture.
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Giertz expects December to be a good month. Economic growth isn’t indicated until the Flash Index tops 100. One year ago, the Flash Index stood at 94.2. The Flash Index is a weighted average of Illinois growth rates in corporate profits, consumer spending and personal income, using readily available data on tax receipts to publish the index at the start of each month.