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State stix
In the first quarter of 1977 Illinois' Gross State Product (GSP) exceeded $100 billion and may go higher later in the year. Estimated at a seasonally adjusted annual figure of $100.7 billion, the state's GSP rose $3.1 billion over the fourth quarter of 1976 — a gain in real dollars of $1.2 billion. On an annual compounded basis the increase in real dollars was 7 per cent compared to 6.9 per cent nationally. Over the 15-year period of 1951 -1976, the real growth of Illinois' GSP averaged 2.5 per cent per year .... The state finished the month of July with an average daily balance of $94 million.
The lowest balance was $11 million in the early part of the month. During the month the state took in $72 million more than it spent, while last year there was a $22 million deficit in July. The comptroller expects the daily balance in general funds revenues to stay above the $100 million mark until October when a series of large expenditures may cause a temporary dip to $50 million .. . .Illinois is expected to produce
1.2 billion bushels of corn
-— about 110 bushels per acre, representing almost one-sixth the nation's corn production, This year's
soybean crop
has been estimated at a record 309.7
million
bushels with an average yield of 31 bushels per acre. Although some farmers say the corn harvest will be lower than predicted, U.S. Department of Agriculture experts believe high yields in northern and southern Illinois will make up for drougllt damaged fields in the central part of the state ....An Illinois Environmental Protection Agency survey indicates that farmers are using more
herbicides.
More than
18.7 million acres
of corn and soybeans in Illinois were treated with herbicides in 1976 compared to 14.4
million acres
in 1972. The larger acreage accounted for only about half the increase in use. The use of pesticides has remained about the same between 1972 and 1976, Production of pesticides such as aldrin, DDT and heptaclor is banned, but except for DDT they may still be purchased. About 575,000 acres were treated with heptaclor in 1976 compared with 428,000 acres in 1971 . . . . The interest rate for loans secured by residential real estate in September is 9.5
per cent.
Preliminary seasonally
adjusted unemployment figures for August are 5.1 per cent statewide;
Chicago, 4.7 per cent; Bloominigton-Normal, 3.8 per cent; Champaign-Urbana, 3.8 per cent; Davenport-Rock Island-Moline, 4.2 per cent; Decatur, 6.9 per cent;
Illinois Section of St. Louis, 6.2 per cent;
Peoria, 5.1 per cent; Rockford, 6.5 per cent and Springfield, 4.9 per cent. Statewide, this was a 0.1 per cent increase from July. Rockford and Decatur had the highest increases in unemployment.
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