Nebraska’s leading economic indicator rose during July, according to the most recent report from the University of Nebraska–Lincoln.

The July leading indicator rose .59%, the third consecutive monthly increase. The rate of improvement, however, slowed relative to May and June.

“The Nebraska economy continues to recover from its sharp decline in March and April, but the pace of recovery appears to have moderated,” said economist Eric Thompson, director of the Bureau of Business Research at the university.

Airline passenger counts continued to improve during July, and building permits for single-family homes rose. There also was a drop in the value of the U.S. dollar, which should improve the competitiveness of Nebraska businesses that export. However, manufacturing hours declined during July, while initial claims for unemployment insurance remained elevated, near June levels. Business expectations were positive on balance. Slightly more businesses responding to the July Survey of Nebraska Business expected to increase employment and sales over the next six months than expected to decrease them.

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

Video: Eric Thompson discusses the July leading economic indicator report