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January 29, 2021

Nebraska Indicator: Solid Economic Growth in the First Half of 2021

Nebraska Indicator: Solid Economic Growth in the First Half of 2021
The Leading Economic Indicator rose again during December 2020 suggesting solid economic growth in the Nebraska economy through mid-2021.

Nebraska’s leading economic indicator rose again during December 2020, according to the most recent report from the University of Nebraska-Lincoln.

The leading indicator rose by 0.36%, marking the third consecutive monthly increase.

“The rising indicator suggests solid economic growth in the Nebraska economy through mid-2021,” said economist Dr. Eric Thompson, director of the Bureau of Business Research at the university.

Three of six components of the leading indicator improved during December.

Building permits for single-family homes and airline passenger counts both rose modestly.

Further, there was a sharp drop in the value of the U.S. dollar during December. “A cheaper dollar enhances the competitive position of manufacturers, agricultural producers and other businesses that export,” according to Thompson.

Business expectations were one area of concern. Respondents to the December Survey of Nebraska Business expect business sales to decline over the next six months, although employment is expected to remain steady. Manufacturing hours-worked also declined during December.