Economic growth will continue in Nebraska through the summer, according to the most recent 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 1.18 percent in January.
“A falling U.S. dollar contributed to the rise in the leading indicator during January,” said economist Eric Thompson, director of the Bureau of Business Research at the university. “The competitive position of Nebraska exporters in agriculture and manufacturing improves as the dollar falls.”
Business expectations also were positive in January, with respondents to the January Survey of Nebraska Business reporting plans to expand sales and employment over the next six months.
While there was an increase in initial claims for unemployment insurance during January, most components of the leading indicator improved during the month. Further, looking over the past six months, the indicator has improved steadily.
“This consistent improvement indicates that the economy will expand steadily at least through the summer of 2018,” Thompson said.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website here.