An economic indicator tracked by the University of Nebraska projects strong growth for the state the remainder of this year.
Bureau of Business Research Director Eric Thompson at the University of Nebraska – Lincoln says the latest leading economic indicator is trending upward.
“It’s two consecutive months of a sharp increase in the leading indicator both January and February, which suggests that the growth will pick up in the Nebraska economy about mid-year,” Thompson tells Nebraska Radio Network affiliate KLIN. “We should see strong growth now in the second half of 2017.”
Business leaders responding to the February survey expressed a very positive outlook, both for increasing sales and for hiring over the next six months.
Unemployment insurance claims fell for the second straight month in February. The value of the dollar fell during February, making Nebraska exports more affordable overseas.
Thompson says even the state agricultural economy is showing signs of re-emergence, with farm prices which have been in a big slump, stabilizing.
The bureau reports that the indicator, a composite which predicts economic growth over the next six months, rose by 2.08 percent in February after rising by a revised 1.76 percent during January.
The full report can be found by clicking here for the UNL Bureau of Business Research.
Jane Monnich, KLIN, contributed to this article.