Nebraska’s leading economic indicator rose during October 2020, according to the most recent report from the University of Nebraska-Lincoln.
The leading indicator rose by 1.83% during the month.
“The rising indicator suggests that the Nebraska economy will grow over the next 6 months,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
Five of the six components of the leading indicator improved during October. “The broad-based improvement in the indicator is especially positive,” according to Thompson.
Manufacturing hours-worked was the fastest-growing indicator component. The declining U.S. dollar was another positive, improving the competitive position of Nebraska businesses that export. Business expectations also were solid, with respondents to the October Survey of Nebraska Business reporting plans to increase in employment over the next 6 months. Finally, there were modest improvements in airline passenger counts and building permits for single-family homes during October.