Latest Post | Last 10 Posts | Archives
Previous Post: It ain’t all rainbows and ponies
Next Post: Arduin tries to tank another governor
Posted in:
* Press release…
The University of Illinois Flash Index fell to 105.1, its lowest level so far this year. The dip in August comes after an uptick in July, when the index was at 105.4.
Two of the three components of the Flash Index, individual income and corporate tax receipts, were down from the same month last year after adjusting for inflation and rate changes. The third component, sales tax receipts, increased.
University of Illinois economist J. Fred Giertz, who compiles the monthly index for the Institute of Government and Public Affairs, said that despite conjecture about a possible recession in the national economy, this decrease in the Flash Index does not signal a recession. Generally, a recession is characterized by the GDP declining for two quarters.
“The Illinois economy appears to be slowing slightly from its recent moderate pace. This, however, is far from an indication of a recession,” Giertz said. “The national and Illinois economies are still growing, albeit at a slower rate. Remember that any Index reading above 100 denotes growth.”
The unemployment rate in Illinois fell slightly to 4.2 percent, tied for the lowest in recent decades. This suggests continued strength, although unemployment is a lagging indicator that tends to increase only after the overall economy slows.
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, personal income and retail sales taxes. These are adjusted for inflation before growth rates are calculated. The growth rate for each component is then calculated for the 12-month period using data through August 31, 2019. See the full Flash Index archive.
posted by Rich Miller
Tuesday, Sep 3, 19 @ 10:35 am
Sorry, comments are closed at this time.
Previous Post: It ain’t all rainbows and ponies
Next Post: Arduin tries to tank another governor
WordPress Mobile Edition available at alexking.org.
powered by WordPress.
Bad news for the left
Comment by Pick a Name Tuesday, Sep 3, 19 @ 10:40 am
FRED has the whole region regressing at the moment.
Me hopes the powers that be recognize the opportunities an economic downturn would present the retirement systems.
Comment by Bertrum Cates Tuesday, Sep 3, 19 @ 10:47 am
Worse news for the right. Trump won’t be able to escape the blame that his tariffs caused a recession.
Comment by A Jack Tuesday, Sep 3, 19 @ 11:15 am
Actually no A Jack as things will get settled within 30 days, IMO.
Too bad he had to take action when past presidents sat back and did little to nothing.
Comment by Pick a Name Tuesday, Sep 3, 19 @ 1:02 pm
Pick a Name, the trade teams couldn’t settle on a date to meet in September and you think they’ll settle the whole trade deal within 30 days? I am curious about your insight.
Comment by Downers Delight Tuesday, Sep 3, 19 @ 2:31 pm
==I am curious about your insight.==
I’m sure it’s the same brilliant insight that drives our President - which is really no insight at all.
Comment by Demoralized Tuesday, Sep 3, 19 @ 3:40 pm
==Actually no A Jack as things will get settled within 30 days, IMO.==
You must think bankrupt farmers forgive easily.
Comment by Da Big Bad Wolf Tuesday, Sep 3, 19 @ 4:09 pm
It is September 3, a date could be arranged any time. It happens all the time, at least in the business world and Trump lives in the business world.
Demo, you like all the positives he has accomplished? Want me to list a few for you? I’m sure you know what they are but I am happy to help.
Comment by Pick a Name Tuesday, Sep 3, 19 @ 4:55 pm
==Too bad he had to take action when past presidents sat back and did little to nothing.==
The TPP wasn’t “nothing”. In fact he abandoned it and replaced it with the current mess.
Comment by Da Big Bad Wolf Wednesday, Sep 4, 19 @ 3:52 am
Welp, looks like October at the earliest.
China and US agree to meet in October for trade negotiations: Chinese Ministry of Commerce https://cnb.cx/34pFVJO
Comment by Downers Delight Wednesday, Sep 4, 19 @ 8:45 pm