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Flash Index of Illinois economy expanding, albeit at slower pace
Mark Reutter,
Business & Law Editor
217-333-0568; mreutter@uiuc.edu
J. Fred Giertz, Institute of Government and Public Affairs
217-244-4822
7/3/06
EDITORS,
NEWS DIRECTORS: The Flash Index of Economic Growth, produced by economists
at the University of Illinois, is based on the most up-to-date information
on the Illinois economy.
CHAMPAIGN, Ill. — June
was an uneventful month for the University of Illinois Flash Economic
Index. The index retreated to 106.0 from its 106.2 level in May.
The results suggest that the Illinois economy continues to expand briskly, although
at a slightly slower pace than during the second half of 2005 and first quarter
of 2006, said J. Fred Giertz, the Illinois professor of economics who compiles
the data.
The Flash Index has remained in the 105 to 107 range for the last 15 months.
Any reading above 100 means that the Illinois economy is expanding, while numbers
below 100 mean that the economy is contracting.
Individual income-tax and sales-tax receipts were up moderately in real (inflation-adjusted)
terms last month from June a year ago, while corporate receipts were down slightly.
The Flash Index is a weighted average of state growth rates in consumer spending,
corporate earnings and personal income. Tax receipts from these categories are
adjusted for inflation before growth rates are calculated. The growth rate for
each component is then calculated for the 12-month period using data through
June 30.
