Nebraska’s leading economic indicator increased rapidly in May, according to the most recent report from the University of Nebraska–Lincoln.
The leading indicator rose by 2.33%, marking the eighth consecutive monthly increase.
“The rapid increase in the indicator suggests that economic recovery will be strong in Nebraska during the second half of this year,” said economist Dr. Eric Thompson, director of the Bureau of Business Research and Karl H. Nelson Professor of Economics at the university.
All six components of the leading indicator improved during May.
“Business expectations were especially strong, and there was rapid growth in manufacturing and airline industry activity,” according to Thompson.
Initial claims for unemployment insurance and the value of the U.S. dollar also fell during the month, which are positive developments for both the labor market and international trade.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, https://bbr.unl.edu.