Economist Say Slight Dip in Economic Indicator Nothing to Worry About
Nebraska's Leading Economic Indicator has dropped 0.06 percent in the month of October.
However, the slight decline comes after three months of growth and is not expected to send the states economic growth into a negative direction.
The state's Leading Economic Indicator increased by 1.21percent in July, 1.36 percent in August and 0.65 percent in September.
UNL economist Eric Thompson believe Nebraska's economy should continue to grow at a moderate pace over the next six months.
"The outlook was mixed in October," said Thompson,director of the Bureau of Business Research at UNL. "A drop in seasonallyadjusted unemployment claims and the U.S. dollar suggest strength in the labormarket and future growth in Nebraska's large export sector."
However, single-family building permits dropped afterseveral months of growth, and business expectations continued to be weak,Thompson said.
The Leading Economic Indicator for Nebraska, produced by thebureau and UNL's Department of Economics, is a composite of six components thatpredict future economic growth. They are single-family building permits,airline passenger counts, initial unemployment claims, manufacturing hours, thevalue of the U.S. dollar and business expectations gathered from the Survey ofNebraska Business.
The full Nebraska Monthly Economic Indicators report and aTechnical Report describing the indicators are available at the UNL College ofBusiness Administration website, www.cba.unl.edu.