The Illinois Flash Index for November rose slightly to 101.7 from its 101.6 level in October. The economy remains in a stable, low-growth mode, continuing the path it has followed for the last several months.

“Although growing more slowly than the national economy, Illinois mirrors the rest of the nation by remaining surprisingly stable, unaffected by the government shutdown, tariff volatility, and uncertainty about future Federal Reserve leadership,” said Fred Giertz, Professor Emeritus, Institute of Government and Public Affairs, University of Illinois Urbana-Champaign.

A kind of blackout continues in the wake of the government shutdown with state unemployment numbers and price changes still not available. This should end soon.

Illinois tax receipts for November (the building blocks of the Flash Index) were mixed. Individual income tax revenues were up in inflation-adjusted terms from the same month last year, while sales tax receipts were down slightly. Recent reports of strong holiday sales may still impact the December numbers. Corporate receipts were up sharply from November of last year. This likely reflects a change in revenue patterns over the year and not a surging economy.

The Flash Index is the weighted average of Illinois growth rates in corporate earnings, consumer spending, and personal income as estimated from receipts for corporate income, individual income, and retail sales taxes. These revenues are adjusted for inflation before growth rates are calculated. The growth rate for each component is calculated for the 12-month period using data through November 30, 2025.