Manufacturing, construction drive improved economic outlook
Nebraska is expected to enjoy solid economic growth in early 2018, according to the most recent leading economic indicator report from the University of Nebraska-Lincoln.
The indicator, a composite of economic factors that predict economic growth six months into the future, rose by 1.86 percent in September.
"The rapid increase in the indicator suggests that growth will be solid rather than slow in Nebraska during early 2018," said economist Eric Thompson, director of the Bureau of Business Research at the university. "Previous indicator reports had suggested slow growth."
The increase in the leading indicator was primarily the result of positive business expectations, an increase in manufacturing hours worked and an increase in building permits for single-family homes during September.
"Improvement in the manufacturing and construction sectors should help ensure broad-based economic growth in Nebraska, at least outside of the agricultural industry," Thompson said.
Just one component of the indicator worsened during September: There was a small increase in initial claims for unemployment insurance on a seasonally adjusted basis.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska's College of Business.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website here.