Nebraska is expected to enjoy solid economic growth in early 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, rose by 1.86 percent in September.
“The rapid increase in the LEI-N suggests that growth will be solid rather than slow in Nebraska during early 2018,” said economist Eric Thompson, director of the Bureau of Business Research at the university. “Previous indicator reports had suggested slow growth.”
The increase in the leading indicator was primarily the result of positive business expectations, an increase in manufacturing-hours worked and an increase in building permits for single-family homes during September.
“Improvement in the manufacturing and construction sectors should help ensure broad-based economic growth in Nebraska, at least outside of the agricultural industry” said Thompson.
Just one component of the LEI-N worsened during September. There was a small increase in initial claims for unemployment insurance on a seasonally-adjusted basis.