By Dave Dahl
SPRINGFIELD – An economics professor who keeps track of how Illinois is doing remains impressed by the post-pandemic performance.
The University of Illinois’ Fred Giertz has said the recovery has been quicker and stronger than expected, and he’s not backing away from that.
“Some of the stimulus programs are, in fact, diminishing. And that’s as it should be, but then the hope is the economy is going to take off on its own, and I think there is a good chance that is correct, because there’s a huge pent-up demand,” Giertz said. “People have received income either from working or from government transfers, but they haven’t really spent as much as they normally would in the last year or so.”
Giertz’s Flash index, measuring Illinois’ economic growth, is down two tenths of a point to 105.6, meaning the growth is slightly slower than it was a month ago. Two months ago, it was 106. The greater above 100, the greater the growth.
The index is a weighted average of consumer spending, corporate earnings, and personal income.
Dave Dahl can be reached at News@WJBC.com.
