A recent report from the University of Nebraska-Lincoln has shown that Nebraska’s leading economic indicator increased in May. This report is designed to predict economic activity six months in advance and rose by 0.26%. According to Eric Thompson, director of the Bureau of Business Research at the university, the monthly report suggests growth in the Nebraska economy in the second half of the year.
Four out of six components of this indicator showed improvement in May, including Nebraska’s manufacturing hours worked, driven by strong demand for food products. Business expectations were also positive as survey respondents reported plans to increase sales and employment in the next six months. Additionally, there was a slight increase in airline passenger counts during the month.
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