The Illinois economy is growing, but the growth is slowing.
This is according to the University of Illinois Flash Index, coming in this month at 106, a drop from 106.5 last month. Numbers over 100 indicate growth.
Economist Fred Giertz, who compiles the index, makes two points: “One is there’s a substantial drop, and secondly, it’s now a three-month trend. In January (the index) reached a (post-recession) high of 107.2 and now it’s down to 106, so I think it shows that the economy is slowing in Illinois as it has in the country, but slowing is not the same as declining,” he said.
Giertz says some of the slowing could be because the winter here was extra cold and snowy and the numbers will bounce back once the weather is warm, but it’s hard to know.