Nebraska’s leading economic indicator rose again during November 2020, according to the most recent report from the University of Nebraska-Lincoln.
The leading indicator rose by 0.61%, marking the fifth increase in the last 6 months.
“The rising indicator suggests that the Nebraska economy will grow through mid-2021,” 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 November.
Business expectations were solid, with respondents to the November Survey of Nebraska Business reporting plans to increase in employment over the next 6 months. There also was modest growth in manufacturing hours-worked and building permits for single-family homes as well as a decline in initial claims for unemployment insurance.
Of particular note, there was a decline in the value of the U.S. dollar in November. “A cheaper dollar enhances the competitive position of manufacturers, agricultural producers, and other businesses that export,” according to Thompson.