UNL: Economic indicator fell in September

(MGN)

Fewer people took steps to build new homes and fewer people chose to travel by plane during the month of September, causing a drop in the economic indicator.

The drop comes after rising throughout 2018, according to the most recent report from the University of Nebraska–Lincoln.

The leading indicator, a composite of economic factors that predict economic growth six months into the future, fell 0.35 percent.

“The decline in the leading indicator suggests that Nebraska’s economic growth, which is currently quite strong, will slow in the coming months,” said economist Eric Thompson, director of the Bureau of Business Research at the university.

“Building permits for single-family homes and airline passenger counts both declined during September,” Thompson said. “Initial claims for unemployment insurance also rose in Nebraska during the month.”

Manufacturing hours worked was a bright spot for the economy, rising for the third consecutive month during September.

The leading economic indicator report is produced monthly by faculty and students in the Bureau of Business Research in Nebraska’s College of Business.

The full report and a technical report describing the indicators are available at the Bureau of Business Research website.

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