Illinois economic index holds steady in volatile month

URBANA, Ill. (AP) — A University of Illinois index of the state’s economy remained steady in August in spite of volatile U.S. and international stock markets.

The university’s Institute of Government and Public Affairs said Tuesday that its Flash Index declined only slightly last month. It dropped from 106.6 in July to 106.5. Any reading of more than 100 indicates growth in the state’s economy.

The institute said in its monthly release on the index that it has remained in a narrow range for more than two years. That indicates what the institute calls steady but unspectacular growth.

The institute also noted that so far the state’s budget stalemate has had no visible effect on Illinois’ economy.