The market was also strongest in terms of leasing with more than 4.8 million sq. Unfortunately for renters, the West Loop also brought in the highest rental rates. Other indicators also point to the state's strength. Last year, Illinois' growth rate per capita was about 2.9 percent real, adjusted for inflation, where the nation's per capita income grew at 2.6 percent. Still, it is important to note that Illinois dropped two spots in the Governor's Cup race from last year's No. 6 spot.
Many analysts suggest at least a slowing in the state's economy.
I don't know if it's a soft landing or not, but we're not growing as we were six months ago. In November, Giertz's index, which reports a weighted average of Illinois' growth rates of corporate earnings, consumer spending and personal income, showed a reading of 101.9, with anything above 100 representing expected real economic growth. November's report was the third consecutive decline, dropping from September's 103.5 and October's 102.8. But there's no evidence of a recession. He also points out that the slowdown is not unlike the slowdown taking place nationwide.