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Nebraska’s Leading Economic Indicator rose in January, according to the most recent report from the University of Nebraska–Lincoln. Designed to predict economic activity six months into the future, the Leading Economic Indicator increased by 0.58%.
“The increase in the leading indicator suggests that the Nebraska economy will grow at a moderate pace through mid-2024,” said economist Eric Thompson, department chair, K.H. Nelson College Professor of Economics and director of Bureau of Business Research.
The six components of Nebraska’s Leading Economic 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.
Two of the six indicator components improved significantly during January. Business expectations were also positive during January.
“Nebraska businesses reported plans to increase both sales and employment over the next six months,” said Thompson. “The Nebraska job market also strengthened in January. Initial claims for unemployment insurance fell during the month, suggesting that Nebraska businesses see sufficient demand to support their current workforce.”
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, https://bbr.unl.edu.
Published: March 1, 2024