Every month, the Illinois Commission on Government Forecasting and Accountability puts out a report on the state’s budget and economy.
In July’s edition, the commission’s numbers continue to show a stronger economy than in 2013. Key economic indicators including new car and truck registrations, single-family housing permits, exports and the Chicago Purchasing Index are all up over last year. At the same time, unemployment is down.
Some other positive news for the economy: state sales tax revenue is up, reflecting consumers’ increasing spending on consumer goods. The state’s franchise tax revenues are also up, which means businesses are investing more money in Illinois.
