One of Illinois’ best economic indices, the University of Illinois’ Institute of Government and Public Affairs Flash Index, jumped to its highest level in six years. The index was at 106.5 in August and increased to 107 in September. Readings below 100 suggest a shrinking economy and above 100 indicate the economy is growing. The last time the flash index was above 107 was in April 2007.
Economist J. Fred Giertz compiles the data to calculate the monthly index based on tax receipts for corporate income, retail sales and individual income. All three measures were up in September from September 2012.