The state of Illinois can expect to see moderate economic growth in the upcoming fiscal year that will lead to higher tax receipts for the state. But there are warning signs on the national horizon that could signal an economic downturn in 2021.

 

That was the message Thursday from Marty Johnson, the acting chief economist at the Illinois Department of Revenue, who briefed House committee members on what they can expect to see in state revenues over the next 16 months.

 

“We just finished up a banner year for the national economy,” Johnson said. “In 2018, (economic) output was expanding at the fastest pace since 2005. Unemployment was at a 49-year low. Consumer spending was robust.”

 

And while Illinois has lagged behind the nation in a number of categories, Johnson said the state has experienced growth, particularly in personal income and in some employment sectors such as manufacturing and construction.

 

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