Strategic Communications and Marketing News Bureau

UI Flash Economic Index hits lowest level since 1992

CHAMPAIGN, Ill. The University of Illinois Flash Economic Index has hit its lowest level since 1992, giving fresh evidence that the state economy has virtually stopped growing.

The Index slid to 100.8 in February from an adjusted 101.2 in January and 101.8 in December. A year ago in February, the Index was 102.4.

“The state economy is approaching zero growth,” said J. Fred Giertz, a UI economist who released the Flash Index today (March 1).

Giertz emphasized that the Illinois economy is not in a recession, but is not noticeably growing either. A recession is defined as two consecutive quarters (six months) of decline in business activity.

Compared to a year ago, corporate tax receipts were up slightly in real (inflation-adjusted) terms, while sales-tax receipts and income -tax receipts were down.

On the brighter side, broad indexes of domestic purchases show that, despite the run-up of oil and gas prices in recent months, inflation nationwide is still under 2 percent.

The Flash Index is a weighted average of growth rates in sales-tax receipts, individual income-tax receipts and corporate-earning receipts in Illinois. The growth rate for each component is then calculated for the 12-month period using data through Feb. 28.

Any reading above 100 means the state economy is expanding, while any number below 100 indicates economic activity is declining.

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