Nebraska’s leading economic indicator rose during October, according to the most recent report from the University of Nebraska–Lincoln’s Bureau of Business Research, rising more than 1.8 percent.
According to BBR Director and economist Eric Thompson, the rising indicator suggests that the Nebraska economy will grow over the next six months.
Five of the six components of the leading indicator improved during October, led by manufacturing hours worked as the fastest-growing component.
Thompson said the broad-based improvement in the indicator is especially positive for the state’s businesses and residents.
The declining U.S. dollar was another positive, improving the competitive position of Nebraska businesses that export. Business expectations also were solid, with respondents to the October Survey of Nebraska Business reporting plans to increase employment over the next six months. Finally, there were modest improvements in airline passenger counts and building permits for single-family homes.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, http://www.bbr.unl.edu.