Illinois’ economy took a small step back during October

Posted on November 4, 2021
The Flash index is a weighted average of consumer spending, corporate earnings, and personal income. The higher above 100, the greater the growth. (Photo courtesy University of Illinois)

By Dave Dahl

SPRINGFIELD – Illinois’ economy took a small step back during October. University of Illinois Flash index author Fred Giertz, an economics professor, presents a monthly snapshot of the state’s economic activity.

The index slipped from 106.0 to 105.4 from the start of October to the start of November. Giertz sees two reasons.

“One: the resurgence of the Delta variant of the virus slowing things down somewhat, and then we have this other problem cropping up these last couple of months of the supply chain, where goods are not getting through.

“So it’s kind of unusual.”

Also unusual: consumers frustrated by the inability to purchase things they have the money to buy, as opposed to the other way around. Giertz says it’s exposing a quirk of consumer behavior in which – unlike the shared sacrifice of World War II, in which we couldn’t buy tires and saved our grease – people are complaining they can only get regular diet cola, not the kind that’s cherry-flavored.

The Flash index is a weighted average of consumer spending, corporate earnings, and personal income. The higher above 100, the greater the growth.

Dave Dahl can be reached at [email protected]

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