An indicator followed closely by University of Nebraska economists has dipped, dimming prospects for economic growth in early 2018.
Bureau of Business Research Director Eric Thompson with the University of Nebraska-Lincoln says one factor is a drag on the state economy.
“The decline occurred, because there was significant drop in manufacturing hours during August and this is obviously a key sector of the economy and a very cyclical sector,” Thompson tells Nebraska Radio Network affiliate KLIN.
Thompson says a key to state economic growth is a sustained expansion of the manufacturing sector.
The leading economic indicator report compiles a number of economic factors to predict economic growth in Nebraska over the next six months. It is produced monthly by the Bureau of Business Research. The indicator fell by .38% in August.
Thompson says there is some good news in the latest survey.
“On the positive side, the respondents to our survey of businesses and all industries were still fairly positive during August, expecting to add jobs and sales over the next six months,” Thompson says.
The full report is available at the Bureau of Business Research website at http://business.unl.edu/outreach/bureau-of-business-research/.
Jane Monnich, KLIN, contributed to this report.