After three months of solid progress, a new economic report finds the rate of growth is slowing.
Eric Thompson, an economist at the University of Nebraska Lincoln, says the latest indicator shows a slow-down.
“There was a decline in single-family building permits here in Nebraska on a seasonally-adjusted basis,” Thompson says. “There was a slight increase in our initial unemployment claims, so that was a bit discouraging about the labor market.
Thompson says they surveyed Nebraska business owners and many expect weak sales over the next six months.
He adds, the value of the U.S. dollar is up, creating some difficulty for ag and other state exporters.
Thompson says they see indications of lack-luster Christmas sales.
“We also produce a coincident economic indicator for the economy and that’s been pretty weak the last few months,” he says. “I wouldn’t be surprised if consumer activity is pretty guarded here in Nebraska at the end of the year.”
Thompson says the slight slowdown in November comes after three months of growth and may signal a slowdown this spring.
By Jane Monnich, KLIN, Lincoln