State economic growth continues at a slow but steady pace despite the current budget showdown, according to the Flash Index of the Illinois economy.
The index of that growth was 104.4 for June, down from 104.6 in May. Any number above 100 on the index reflects a growing state economy.
University of Illinois economist J. Fred Giertz, who compiles the Index from state tax receipts, said he's surprised by a similar level of growth over the past year.
“... There’s been a lot of instability in regard to the political activities, both in the state of Illinois, the U.S. and also the world," he said, "so it’s kind of an anomaly when the economy is much more stable and in some sense predictable than the political center.”
The Index has stayed in the 104 to 105 range for the past 12 months --- despite state budget problems that might lower it and national economic growth that could raise it.