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Nebraska’s Leading Indicator Points to a Steady Economic Recovery

Nebraska’s Leading Indicator Points to a Steady Economic Recovery
The Leading Economic Indicator rose for the third consecutive month.
Nebraska’s leading economic indicator rose during July 2020, according to the most recent report from the University of Nebraska-Lincoln.

The July leading indicator rose by 0.59%, the third consecutive monthly increase. The rate of improvement, however, slowed relative to May and June.

“The Nebraska economy continues to recover from its sharp decline in March and April, but the pace of recovery appears to have moderated,” said economist Eric Thompson, director of the Bureau of Business Research at the university.

Airline passenger counts continued to improve during July, and building permits for single-family homes rose. There also was a drop in the value of the U.S. dollar, which should improve the competitiveness of Nebraska businesses which export. However, manufacturing hours declined during July while initial claims for unemployment insurance remained elevated, at near June levels. Business expectations were positive on balance. Slightly more businesses responding to the July Survey of Nebraska Business expected to increase in employment and sales over the next 6 months than expected to decrease them.

Published: August 26, 2020