GDP REBOUNDS, BUT CORE DEMAND CONTINUES TO SLOW
Benjamin L. Varner, Chief Economist

The U.S. economy rebounded in the second quarter of 2025, growing at a 3.0% annualized rate after a first-quarter contraction. However, underlying measures show softening private-sector demand, casting doubt on the strength and sustainability of the expansion.

GENERAL REVENUES DOWN SLIGHTLY TO KICK OFF FISCAL YEAR 2026
Eric Noggle, Revenue Manager

Revenues deposited into the State’s General Funds slipped slightly in July to start off Fiscal Year 2026 with an overall decline of $35 million or -0.9%. The minor decrease was due to mixed results from Illinois’ revenue areas with growth from the Sales Tax, Transfers, and Other State Sources being offset by modest declines in Income Taxes and Federal Sources.