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There was another increase in Nebraska’s Leading Economic Indicator during July, according to the most recent report from the University of Nebraska–Lincoln. Designed to predict economic activity six months into the future, the indicator rose by 1.72%.

"The rising indicator value suggests the Nebraska economy will grow through the end of the year and into early 2025," said economist Eric Thompson, department chair, K.H. Nelson College Professor of Economics and director of Bureau of Business Research.

The six components of Nebraska’s Leading Economic Indicator include business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar and manufacturing hours worked.

All six indicator components improved during July, with three notable increases.

“Nebraska manufacturing hours-worked grew again, as Nebraska benefits from its cost and location advantages for the industry,” said Thompson.

Building permits for single-family homes also rose in July.

"While this could be a temporary spike in activity, Nebraska may see a durable expansion in home building as interest rates trend lower,” he said.

Business expectations also were positive, as in recent months. Respondents to the July Survey of Nebraska Business reported plans to increase both sales and employment over the next six months.

The full report and a technical report describing the indicators are available at the Bureau of Business Research website, https://bbr.unl.edu.

• BBR Complete Leading Economic Indicator Reports
• Monthly Leading Economic Indicator Report