Nebraska’s leading economic indicator rose 1.72% during July, according to the most recent report from the University of Nebraska–Lincoln. The indicator is designed to predict economic activity six months into the future.
“The rising indicator value suggests the Nebraska economy will grow through the end of the year and into early 2025,” said economist Eric Thompson, director of the Bureau of Business Research, department chair and K.H. Nelson College Professor of Economics.
The six components of the indicator are 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. All six components improved during July, with three notable increases.
“Nebraska manufacturing hours worked grew again, as Nebraska benefits from its cost and location advantages for the industry,” Thompson said.
Building permits for single-family homes also increased.
“While this could be a temporary spike in activity, Nebraska may see a durable expansion in home building as interest rates trend lower,” he said.
Business expectations also were positive, as in recent months. Respondents to the July Survey of Nebraska Business reported plans to increase both sales and employment over the next six months.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, https://bbr.unl.edu.
