Economic growth is expected to slow in Nebraska during the 2nd 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, fell by 0.24 percent in October.
“The decline in the LEI-N suggests that Nebraska economic growth will slow in six months, during the 2nd quarter of 2018,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
A rising U.S. dollar was the primary reason for the decline in the leading indicator during October.
“A rising dollar increases competitive pressure on Nebraska exporters in agriculture and manufacturing,” said Thompson.
Building permits for single-family homes and manufacturing hours-worked also fell during October.
On the positive side, initial claims for unemployment insurance fell on a seasonally-adjusted basis in October, suggesting continued strength in the Nebraska labor market.