Nebraska’s leading economic indicator rose in June, according to the most recent report from the University of Nebraska–Lincoln.
The leading indicator rose 1.72% during the month. Increases in both May and June followed a sharp decline in March and April.
“The June increase confirms that the Nebraska economy is steadily recovering from the shock caused by the COVID-19 pandemic,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
The recovery of the Nebraska economy is broad-based, he said.
All components of the leading economic indicator improved during June. The slow recovery in airline passenger enplanements continued. There was also a small drop in initial claims for unemployment insurance, while manufacturing hours worked and building permits for single-family homes increased modestly. Business expectations also were positive, as respondents to the June Survey of Nebraska Business reported plans to increase employment at their businesses over the next six months. Finally, there was a drop in the value of the U.S. dollar. A lower dollar improves the competitiveness of agricultural producers, manufacturers and other Nebraska businesses that export.