Nebraska’s leading economic indicator rose sharply during July, 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 2.66%. The July increase reversed a modest decline in June.
“Taken together, results from the last two months suggest solid economic growth in Nebraska through the end of 2019 and into early 2020,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
All components of the leading indicator rose during July, Thompson said. Manufacturing hours worked and building permits for single-family homes both increased during the month. The value of the U.S. dollar dropped, which is positive for Nebraska businesses that export. In addition, initial claims for unemployment insurance dropped sharply, while business expectations were strong during July. Respondents to the July Survey of Nebraska Business reported plans to increase sales and employment over the next six months.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.