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February U of I Flash Index increased marginally after decreasing last month

February U of I Flash Index increased marginally after decreasing last month

The U of I Flash Index for February rose marginally to 102.6 from its 102.5 reading in January. The index continued in the narrow range of 102.5 to 103.4 that it occupied the last year. Any reading above 100 denotes growth. “The U. S. and Illinois economies remain in a steady growth mode with moderating inflation, relatively strong GDP growth, and low unemployment. Despite concerns about interest rates, the U. S. equity markets are near all-time highs.” In Illinois, individual income and corporate tax receipts were up in real terms compared to the same month last year, possibly nudged upward by the extra leap year day, while sales tax receipts were down slightly. The Illinois unemployment for the most recent month was not yet available. The Flash Index is a 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 29, 2024.  
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“The U. S. and Illinois economies remain in a steady growth mode with moderating inflation, relatively strong GDP growth, and low unemployment. Despite concerns about interest rates, the U. S. equity markets are near all-time highs.”

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