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October 28, 2020

Nebraska Indicator: Economic Recovery Slows in the State

Nebraska Indicator: Economic Recovery Slows in the State
Nebraska’s leading economic indicator rose modestly during September 2020.
Nebraska’s leading economic indicator rose modestly during September 2020, according to the most recent report from the University of Nebraska-Lincoln.

The September leading indicator rose by just 0.09% during the month.

“The Nebraska economy will continue to recover from the recession, but the pace of recovery is expected to slow during the winter,” said economist Eric Thompson, director of the Bureau of Business Research at the university.

The leading indicator value was impacted by a decline in manufacturing hours-worked and building permits for single-family homes during September. The decline in manufacturing hours was the third consecutive monthly decrease.

“Other components of the leading indicator improved during September,” according to Thompson. Business expectations were positive, with respondents to the September Survey of Nebraska Business reporting plans to increase in employment and sales over the next 6 months. Initial claims for unemployment insurance also dropped during September, along with the value of the U.S. dollar. A weaker dollar improves the competitive position of Nebraska businesses which export. Finally, there was a modest improvement in airline passenger counts in Nebraska during September.