Nebraska Can Expect Slight Economic Growth Through Middle of 2013
The state of Nebraska can expect to see slight economic growth coming up in the middle of 2013 according the Leading Economic Indicator.
The University of Nebraska at Lincoln's Department of Economics and Bureau of Business Research produced the indicator, which is designed to predict economic growth within the state six months into the future.
The Leading Economic Indicator rose by 0.11 percent in December according to UNL economists.
The indicator is a composite of six components found to help predict future economic growth, such as single-family building permits, airline passenger counts, initial unemployment claims, manufacturing hours, the value of the U.S. dollar and business expectations gathered from the Survey of Nebraska Business.
"These components were mixed during December,"said UNL economist Eric Thompson, director of the Bureau of Business Research."A falling U.S. dollar and a drop in initial unemployment insurance claimssuggest improvement in exports and the labor market in Nebraska during thefirst half of 2013.
"However, respondents to the Survey of NebraskaBusinesses were pessimistic about the prospects for sales and employment growthover the next six months."
Thompson said recent values for the Leading EconomicIndicator for Nebraska suggest the state's economy should grow solidly duringthe first quarter of 2013, but that growth will be limited between April andJune.
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.