A major indicator of Illinois economic activity climbed in December and remains near its pre-pandemic high, despite continued concerns about the latest surge in COVID cases.
The University of Illinois Flash Index moved up slightly in December to 105.7, up from 105.5 the previous month. The index is based on multiple factors, including tax revenues, corporate earnings, and consumer spending.
The U of I says those components remain strong, especially sales tax revenue, which hit an all-time high in the state in December. But economists warn the new COVID surge and ongoing supply chain problems could cause economic activity to slow in the New Year.
