Nebraska Economy on Track for Growth in Second Half of Year: New Report from University of Nebraska-Lincoln

In May, the University of Nebraska-Lincoln released its most recent report on Nebraska’s leading economic indicator. The indicator, which is designed to predict economic activity six months in advance, saw a 0.26% increase in May.

Eric Thompson, director of the Bureau of Business Research at the University of Nebraska-Lincoln, stated that the monthly report suggests that the Nebraska economy will grow in the second half of the year. The six components that make up this indicator include business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar, and manufacturing hours worked.

Four out of these six components showed improvement in May, with manufacturing hours worked seeing significant growth due to strong demand for food products. Additionally, business expectations were positive as respondents to a May survey reported plans to increase sales and employment over the next six months. There was also a small increase in airline passenger counts during this month as well.

To learn more about this report and other technical descriptions of indicators from the Bureau of Business Research at UNL, visit their website today. To stay updated with daily digest and breaking news alerts from KSNB Local4, subscribe to their email newsletter now! Copyright 2024 KSNB Local4