Economic indicators tracked by the University of Nebraska indicate the state economy will continue to grow through the remainder of this year.
The composite, called the leading economic indicator by the Bureau of Business Research at the University of Nebraska-Lincoln, rose in April.
Bureau Director Eric Thompson says the indicator has risen every month this year, suggesting the state economy will continue to growth through the fourth quarter.
Three components bolstered the indicator. Business owners and managers continue to be optimistic about the economy, reporting both plans to increase sales and employment during the next six months. Airline passenger counts in Nebraska increased in April, after adjusting for seasonal factors. Unemployment claims dropped.
Some areas of weakness were disclosed during the April survey.
“For example, this month, we did see a modest decline in manufacturing hours and also a modest drop in building permits for single-family homes on a seasonally-adjusted basis,” Thompson tells Nebraska Radio Network affiliate KLIN. “So, not every part of the economy is hitting on all cylinders, but, taken as a whole, the economy continues to expand.”
The U.S. dollar rose again as well, which normally dampens exports, vital to the Nebraska economy.
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.
For the full report go to the Bureau of Business Research website.
Jane Monnich, KLIN, contributed to this story.