Nebraska’s leading economic indicator sees first drop of 2019
Nebraska’s leading economic indicator fell during June, 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, fell by 0.29%. The June decline was the first decrease of the leading indicator during 2019.
“The leading economic indicator fell due to a drop in manufacturing hours worked and airport passenger enplanements during June,” said economist Eric Thompson, director of the Bureau of Business Research at the university. “There also was an increase in initial claims for unemployment insurance.”
Business expectations also moderated during June. Respondents to the June Survey of Nebraska Business reported plans for only a modest increase in employment over the next six months.
“The drop in the leading indicator suggests that the pace of economic growth will slow in Nebraska toward the end of 2019,” Thompson said.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.