The Illinois economy is looking up a bit, according to the University of
Illinois Flash Index.
Economics professor Fred Giertz says the index ticked up from 106 to 106.2 for May. A number greater than 100 means growth. The index calculates personal income, consumer spending, and corporate earnings.
The summer vacation season could reflect elevated consumer confidence. “There was an increase in estimated Memorial Day travel,” says Giertz, but “I think it’s going to be a modest and steady” increase in discretionary spending.
Giertz says the nation’s sluggish first quarter can be blamed on the weather.