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Flash Index of Illinois economy held steady in October, latest data show
Mark Reutter,
Business & Law Editor
217-333-0568; mreutter@illinois.edu
J. Fred Giertz, Institute of Government and Public Affairs
217-244-4822
11/1/2005
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. —
The University of Illinois Flash Economic Index remained at 106.9 last
month, the same level as September.
“A stable Index means that the state economy continues to expand
at the same rate, which is positive news since the Flash reading is
at the highest level since January 1998,” J. Fred Giertz, the
University of Illinois economist who released the data, said today.
Giertz said the October reading confirms earlier data that the hurricanes
and floods in the South have caused little damage to the Illinois economy.
This also appears to be the case for the national economy as well. Job
growth continued strong in the state.
All three components of the Flash Index were up in real (inflation-adjusted)
terms in October from the same month a year ago. Corporate receipts
were especially strong last month.
The Index is a weighted average of state growth rates in consumer spending,
corporate earnings and personal income. Tax receipts from corporate
income, retail sales and personal income 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 Oct. 31.
