The Nebraska economy will continue to growth through the third quarter of 2018, according to the most recent leading economic indicator report from the University of Nebraska-Lincoln.
The indicator, a composite of economic factors that predict economic growth six months into the future, rose by 1.03 percent in February of 2018.
“Solid business confidence and a strong labor market contributed to the rise in the leading indicator,” said economist Dr. Eric Thompson, director of the Bureau of Business Research at the university. In a positive sign for the labor market, initial claims for unemployment insurance fell in Nebraska on a seasonally-adjusted basis. Respondents to the February Survey of Nebraska Business also reported plans to expand sales and employment over the next six months.
Most components of the leading indicator improved during the month. There was, however, a slight increase in the value of the U.S. dollar during February. “A rising U.S. dollar creates more competitive pressure for Nebraska exporters, including in manufacturing and agriculture,” Thompson said.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.