Nebraska’s leading economic indicator rose in January, according to the most recent report from the University of Nebraska–Lincoln. The indicator, designed to predict economic activity six months into the future, increased 0.58%.

“The increase in the leading indicator suggests that the Nebraska economy will grow at a moderate pace through mid-2024,” said economist Eric Thompson, director of the Bureau of Business Research, department chair and K.H. Nelson College Professor of Economics.

The six components of Nebraska’s leading economic indicator are business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar and manufacturing hours worked.

Video: Eric Thompson discusses the January leading economic indicator report

Two components improved significantly during January.

“Nebraska businesses reported plans to increase both sales and employment over the next six months,” Thompson said. “The Nebraska job market also strengthened in January. Initial claims for unemployment insurance fell during the month, suggesting that Nebraska businesses see sufficient demand to support their current workforce.”

Read the full report and a technical report describing the indicators.