Nebraska’s leading economic indicator rose during October, according to the most recent report from the University of Nebraska–Lincoln.
The leading indicator, a composite of economic factors that predict economic growth six months into the future, rose by 1.26%.
“The October increase implies continued economic growth in Nebraska through the spring of 2020,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
For the second-consecutive month, the leading indicator rose due to solid business expectations and a robust labor market, Thompson said. Respondents to the October Survey of Nebraska Business reported plans to increase sales and employment over the next six months. Initial claims for unemployment insurance also fell during October on a seasonally adjusted basis. Building permits for single-family homes rose during October.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.