A monthly survey of Nebraska business owners and supply managers finds leading economic indicators rose slightly in November. Creighton University economist Ernie Goss says Nebraska’s experiencing solid gains in several industries.
“We’re seeing some real good growth in durable goods producers, very good prospects, somewhat better than non-durables,” Goss says. “Food processing isn’t quite as strong as we’ve seen in the past. At least into 2011, we’re going to see positive job growth in Nebraska.”
The month-long holiday shopping season is where some Nebraska business make most of their profits for the year and Goss says it’s off to an excellent start.
“The holiday buying season is going to be up in my judgement about three to four to five percent,” Goss says. “We’ve got very good agricultural income which is spilling over into other businesses in the mid-American region, so that’s looking good.”
He says most merchants in Nebraska are thrilled with sales over the past week and with the prospects for the next month.
“Cyber Monday was a very good shopping day,” Goss says. “Black Friday was also good, I think a little better than what we expected. All in all, the 2010 holiday buying season is going to be better than 2009.” Still, he says the state’s large food processing sector is showing slow-to-no growth.