The Illinois Flash Index for February remained unchanged from last month’s reading of 102.2. The Index continued in the narrow range it has been in for over a year.
Any reading above 100 denotes growth.
“Both the U. S. and Illinois economies show remarkable stability in a highly volatile political and economic environment,” said Fred Giertz, Professor Emeritus, Institute of Government and Public Affairs, University of Illinois Urbana-Champaign. “A recent report from the state’s Commission on Government Forecasting and Accountability echoes this pattern with modest, but steady growth in both Gross State Product and employment.
Illinois income tax and sales tax receipts were down slightly from the same month last year after adjusting for inflation. Accounting for the extra leap year day in 2024, they are virtually unchanged. Following the recent pattern, corporate tax receipts were down from last February. However, February is among the slowest months for corporate tax revenues. The Illinois and national unemployment rates fell slightly with Illinois’ 5.2 percent rate more than one percentage point above the national level.
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 months using data through February 28, 2025.
“Both the U.S. and Illinois economies remain remarkably stable despite uncertainty about the new administration's economic policy course. An index reading above 100 indicates growth,” said Fred Giertz, Professor Emeritus, Institute of Government and Public Affairs, University of Illinois Urbana-Champaign.