Crain's Chicago Business: Moody's sees reason for optimism over Illinois economy

Boosted by booming downtown Chicago and a perhaps surprising revival of downstate manufacturing, Illinois’ economy is showing signs of pulling out of its mid-decade funk, according to a new report prepared for the state by Moody’s Analytics. The growth of personal income compared to other Midwest states has been particularly impressive, the New York research firm says.

But state job growth, while improving, still lags the nation and the region. And unless the state can reverse its population loss, its economic recovery will be limited, Moody’s says.

The conclusions, which serve as a backdrop of sorts to the fiscal 2020 budget newly installed Gov. J.B. Pritzker is set to unveil Feb. 20, come from Moody’s annual economic forecast prepared for the Commission on Government Forecasting & Accountability, the Legislature’s fiscal research unit.

There definitely is some good news in the report, and given how much bad news there’s been lately, let me start with that.

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