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Leading Economic Indicator for Nebraska Largely Unchanged in November BBR Report

The Leading Economic Indicator – Nebraska (LEI-N) was largely unchanged in October 2012, dropping by 0.06%. This slight decline, however, followed three months of growth in LEI-N from July through September and the October data is insufficient to reverse the trend of the previous three months. The Nebraska economy therefore is expected to grow at a moderate pace during the next six months. The Leading Economic Indicator – Nebraska is produced by faculty and students in the Department of Economics and Bureau of Business Research within the UNL College of Business Administration.

The LEI-N is a composite of six components which predict future economic growth: single-family building permits, airline passenger counts, initial unemployment claims, manufacturing hours, the value of the U.S. dollar, and business expectations gathered from the Survey of Nebraska Business.“

The outlook was mixed in October. A drop in seasonally adjusted unemployment claims and the U.S. dollar suggest strength in the labor market and future growth in Nebraska’s large export sector, said University of Nebraska-Lincoln economist Eric Thompson, director of the Bureau of Business Research. “However, single-family building permits dropped after several months of growth, and business expectations continued to be weak.”

Looking over the rest of the year, Thompson said that recent values for the Leading Economic Indicator – Nebraska suggest that “the Nebraska economy will grow over the next 6 months with the strongest improvement expected in January 2013.“

Leading Economic Indicator Graph - Nebraska

November Leading Economic Indicator - Nebraska Report

Published: November 16, 2012