Peoria Public Radio Staff
Wed March 13, 2013
IL at risk to fall back into recession
As the country's economy slowly improves, an economist says there are several reason why Illinois' is not. Edward Boss the chief economist for the state's government forecasting commission. He says Illinois is one of just a handful of states at risk to fall back into a recession.
“A weak housing market and poor state finances are largely to blame. After a promising start to the recovery, Illinois has been among the Midwest's weakest and is underperforming the nation in most gauges.” Boss says Illinois does not have as many auto manufacturing jobs as neighboring states. He says the recovering auto industry has helped states like Ohio bolster its budget. Boss also says Illinois exports fell by a half-billion dollars during the last six months of 2012.