The University of Illinois’ Flash Index, a measure of the overall performance of the Illinois economy, recently reported a decline for the fourth month in a row.
The Flash index is “the weighted average of Illinois growth rates in corporate earnings, consumer spending, and personal income as estimated from receipts for corporate income, individual income, and retail sales taxes.”
A score above 100 indicates that the Illinois economy is growing. In this case, April numbers show that the Illinois economy is still in growth mode. However, that growth is declining.
When it comes to unemployment, Illinois is slightly higher than the national average of the rest of the nation, but not by much.
Illinoisans, like the rest of the nation, are still feeling the effects of inflation due to high energy prices from the war in Iran. As the Flash Index reported, sales tax revenues were down 1 percent, likely due to consumers holding back spending from high prices.
You can read the Flash Index report by clicking here.
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