SPRINGFIELD – A key measure of the state's economy showed positive signs of growth in March.
The University of Illinois Flash Index inched above the 100 point level, indicating growth conomy for the first time since September 2008.
Economist J. Fred Giertz, who compiles the index for the university's Institue of Government and Public Affairs, said the breaking of the 100 barrier is "good news" for the economy.
Despite the positive mark, Giertz warned the state's recovery from the recession remains "anemic, primarily because the Illinois unemployment rate remains higher than the national average.
"It will likely be at least a year or two before unemployment rates in the 6 percent range are achieved," Giertz said.
The index is a weighted average of Illinois growth rates in corporate earnings, consumer spending and personal income. All three components of the index were up in real terms in March compared to the same month last year with the largest percentage increase registered by corporate receipts. - http://bit.ly/HVgLAw
