Nebraska’s leading economic indicator rose again in June, according to the most recent report from the University of Nebraska–Lincoln.
The leading indicator rose 1.17%, marking the ninth consecutive monthly increase.
“The increase in the indicator confirms that economic growth will be strong in Nebraska through the end of the year,” said economist Eric Thompson, director of the Bureau of Business Research and K.H. Nelson Professor of Economics at the university.
The six components of the Leading Economic Indicator-Nebraska 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. Three of the six components improved during June.
Business expectations were especially strong, and there was a continued recovery in the airline sector, Thompson said. There also was a drop in initial claims for unemployment insurance, which is a sign of strength for the state’s labor market, he said.
Manufacturing hours worked and building permits for single-family homes declined in Nebraska during June.