Nebraska’s leading economic indicator rose during November, 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 0.7%.

“The November increase implies modest economic growth in Nebraska during the first half of 2020,” said economist Eric Thompson, director of the Bureau of Business Research at the university.

The leading indicator rose due to an increase in manufacturing hours worked, a drop in initial claims for unemployment insurance and strong businesses expectations, Thompson said. Respondents to the November Survey of Nebraska Business reported plans to increase sales and employment over the next six months.

One component of the leading indicator, building permits for single-family homes, fell sharply during November.

The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.

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

Video: Eric Thompson discusses the November leading economic indicator report