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During April, there was an increase in Nebraska’s Leading Economic Indicator, according to the most recent report from the University of Nebraska–Lincoln. Designed to predict economic activity six months into the future, the Leading Economic Indicator rose by 0.42%.
“The monthly report suggests the Nebraska economy will grow during the fourth quarter of 2024,” said economist Eric Thompson, department chair, K.H. Nelson College Professor of Economics and director of Bureau of Business Research. “Overall, while the Nebraska economy struggled in the first quarter of 2024, growth is expected to accelerate mid-year and continue through to the fourth quarter.”
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.
Three of six indicator components improved during April.
“Nebraska manufacturing hours-worked grew again in April, as the state and national manufacturing industry continued to strengthen,” according to Thompson. “The labor market also strengthened during April.”
Business expectations also were positive. Respondents to the April Survey of Nebraska Business reported plans to increase sales and employment over the next six months.
Initial claims for unemployment insurance fell in Nebraska during the month.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, https://bbr.unl.edu.
Published: May 22, 2024