Nebraska’s leading economic indicator rose again during August 2020, according to the most recent report from the University of Nebraska-Lincoln.
The August leading indicator rose by 0.85%, the fourth consecutive monthly increase. The rate of improvement, however, remains modest.
“The Nebraska economy continues to recover from its sharp decline in March and April, but the pace of recovery remains modest,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
Initial claims for unemployment insurance dropped during August. There also was a drop in the value of the U.S. dollar. A weaker dollar improves the competitive position of Nebraska businesses which export. Airline passenger counts and building permits for single-family homes also grew during August, but the pace of improvement slowed considerably. Finally, while there was a drop in manufacturing hours worked, business expectations were positive during August. Respondents to the monthly Survey of Nebraska Business reported plans to increase in employment and sales over the next 6 months.