Indicator shows growing optimism about 2017
Nebraska will experience moderate economic growth in the first quarter of 2017, according to the latest leading economic indicator report from the University of Nebraska-Lincoln.
The indicator, a composite of economic factors that predict economic growth six months into the future, rose by 1.14 percent in September.
"The September increase is a positive sign for economic growth in 2017," said economist Eric Thompson, director of the Bureau of Business Research at the university. "The solid increase in the indicator suggests that growth will be moderate, rather than slow, during the first quarter of 2017."
Four of six components showed positive signs for economic growth, Thompson said. Airline passenger counts rose, manufacturing hours increased and initial unemployment claims dropped. In addition, respondents to the monthly Survey of Nebraska Business indicated that they expected sales and employment to increase during the next six months.
On the cautionary side, the value of the U.S. dollar rose in September, a negative sign for Nebraska's export-oriented businesses in agriculture and manufacturing. There also was a decline in building permits for single-family homes.
The leading economic indicator report is produced monthly by faculty and students in the economics department and the Bureau of Business Research in Nebraska's College of Business Administration.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website here.