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July 28, 2021

Strong Economic Growth for Remainder of Year

NEBRASKA’S ECONOMIC INDICATOR CONTINUES TO IMPROVE
Strong Economic Growth for Remainder of Year
The Nebraska Leading Economic Indicator rises again in June by 1.17%, the ninth consecutive monthly increase for the state economy.

Nebraska’s leading economic indicator rose again in June, according to the most recent report from the University of Nebraska–Lincoln.

The leading indicator advanced by 1.17%, marking the ninth consecutive monthly increase.

“The increase in the indicator confirms that economic growth will be strong in Nebraska through the end of the year,” said economist Dr. Eric Thompson, director of the Bureau of Business Research and K.H. Nelson Professor of Economics at the university.

The six components of the Leading Economic Indicator – Nebraska are 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 components of the leading indicator improved during June.

“Business expectations were especially strong, and there was a continued recovery in the airline sector,” according to Thompson.

There also was a drop in initial claims for unemployment insurance, which is a sign of strength for the state labor market. 

Among declining components, both manufacturing hours worked and building permits for single-family homes declined in Nebraska during June.   

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