Illinois’ emergence from the pandemic continues

Posted on July 2, 2021
The Flash Index, compiled by University of Illinois economics professor Fred Giertz, rose from 105.3 to 106.0 over the past month. (Photo courtesy University of Illinois)

By Dave Dahl

SPRINGFIELD – The state’s continued growth is a continued surprise, says a professor who has chronicled the Illinois economy’s ups and downs for decades.

The Flash Index, compiled by University of Illinois economics professor Fred Giertz, rose from 105.3 to 106.0 over the past month. The index is a weighted average of personal income, corporate earnings, and consumer spending.

“The economy is much better than we expected,” Giertz said in an interview. “The revenue has been strong, but that’s been bolstered by (aid from the) federal government. The question now is, how do we wean ourselves from that, because we can’t go on like this forever.”

While not mentioning forever, Gov. JB Pritzker said this week that the Fiscal Year 2022 budget – which took effect Thursday – is balanced without federal help.

Dave Dahl can be reached at [email protected]

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