Nebraska’s leading economic indicator rose rapidly in May, according to the most recent report from the University of Nebraska–Lincoln.
The leading indicator rose 2.33%, marking the eighth-consecutive monthly increase.
“The rapid increase in the indicator suggests that economic recovery will be strong in Nebraska during the second half of this year,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
All six components of the leading indicator improved during May.
“Business expectations were especially strong, and there was rapid growth in manufacturing and airline industry activity,” Thompson said.
Initial claims for unemployment insurance and the value of the U.S. dollar also fell during the month. Those are positive developments for both the labor market and international trade.