Strategic Communications and Marketing News Bureau

UI Flash Economic Index continues its decline

CHAMPAIGN, Ill. The University of Illinois Flash Economic Index continued its decline, falling to 98.0 in August from its 98.3 level in July.

The Index has been below 100 (the dividing line between economic growth and contraction) in the last four months and in five of the last six months. It is at its lowest level since June 1992.

“Illinois economy is in a no-growth situation much like the national economy,” said J. Fred Giertz, a UI economist who released the Flash Index today (Sept. 4). “The national Gross Domestic Product barely grew at a 0.2 percent annual rate in the second quarter of 2001. Even though a recession so far has been technically avoided, both the national and state economies are clearly suffering a severe slowdown.”

Giertz pointed out that the UI Flash Index cannot be compared directly to the national GDP growth rate. The UI Index overweights corporate profits compared to their relative size in the economy. Because corporate profits have been the weakest component recently, this has pulled the Flash reading below 100, though the state economy may not be in actual decline.

All three components of the Index fell in real terms compared to a year ago, with corporate receipts experiencing the largest percentage shortfall. In August a year ago, the Index stood at 102.3.

The UI Index is a weighted average of Illinois growth rates in corporate earnings, consumer spending and personal income. Tax receipts from corporate income, personal income and retail sales 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 Aug. 31.

Read Next

Life sciences Portrait of the research team posing together.

Minecraft players can now explore whole cells and their contents

CHAMPAIGN, Ill. — Scientists have translated nanoscale experimental and computational data into precise 3D representations of bacteria, yeast and human epithelial, breast and breast cancer cells in Minecraft, a video game that allows players to explore, build and manipulate structures in three dimensions. The innovation will allow researchers and students of all ages to navigate […]

Arts Photo of seven dancers onstage wearing blue tops and orange or yellow flowing skirts. The backdrop is a Persian design.

February Dance includes works experimenting with live music, technology and a ‘sneaker ballet’

CHAMPAIGN, Ill. — The dance department at the University of Illinois Urbana-Champaign will present February Dance 2025: Fast Forward this week at Krannert Center for the Performing Arts. February Dance will be one of the first performances in the newly renovated Colwell Playhouse Theatre since its reopening. The performances are Jan. 30-Feb. 1. Dance professor […]

Honors portraits of four Illinois researchers

Four Illinois researchers receive Presidential Early Career Award

CHAMPAIGN, Ill. — Four researchers at the University of Illinois Urbana-Champaign were named recipients of the Presidential Early Career Award for Scientists and Engineers, the highest honor bestowed by the U.S. government on young professionals at the outset of their independent research careers. The winners this year are health and kinesiology professor Marni Boppart, physics professor Barry Bradlyn, chemical and biomolecular engineering professor Ying […]

Strategic Communications and Marketing News Bureau

507 E. Green St
MC-426
Champaign, IL 61820

Email: stratcom@illinois.edu

Phone (217) 333-5010