The Illinois Flash Index for January fell slightly, to 102.2 from its reading last month of 102.4.
“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.
The index remained in a tight range of 102 to 103 during calendar 2024. This mirrored the U.S. economy, which grew at a 2.5 percent rate for the same period. However, the Illinois unemployment rate of 5.2 percent remains about one percentage point above the national average—one of the highest rates in the nation.
Illinois income tax receipts were up slightly from the same month last year after adjusting for inflation while sales tax receipts and corporate revenues were down (although January corporate receipts are always low).
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 January 31, 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.