State economic conditions seem poised for solid growth through the remainder of the year into next year.
The Bureau of Business Research at the University of Nebraska – Lincoln reports its leading economic indicator rose by a percent in August.
Bureau Director Eric Thompson says the uptick bucks the pattern set the previous three months.
“That was a big improvement,” Thompson tells Nebraska Radio Network affiliate KLIN. “It followed three months of very tepid, small improvements in the indicator and it suggests that economic growth might be a bit stronger than expected next year.”
Positives in the latest bureau survey include strong business expectations, an increase in manufacturing activity and an increase in airline passenger counts.
Claims for unemployment insurance also dropped in August.
Thompson says several of the sectors the report watches appear in position for solid growth.
“One sector that hasn’t done as well lately is housing construction,” according to Thompson. “So, there was a slight decline in seasonally-adjusted basis in building permits for single-family homes in the state. As we know, homes have gotten a lot more expensive over the last few years with rising prices.”
The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business. It attempts to forecast economic conditions for the next six months.
Click here for the full report.
Jane Monnich contributed to this article.