Indicator suggests slow economic growth for Nebraska

Nebraska’s main financial indicator fell barely in July, based on the newest report from the College of Nebraska–Lincoln. The indicator, designed to foretell financial exercise six months into the longer term, fell 0.08%.

“The July lower suggests gradual financial development in Nebraska for the remainder of 12 months and the start of 2023,” mentioned Eric Thompson, director of the Bureau of Enterprise Analysis and Ok.H. Nelson Professor and chair of economics.

The six elements of Nebraska’s main financial indicator are enterprise expectations, constructing permits for single-family properties, airline passenger counts, preliminary claims for unemployment insurance coverage, the worth of the U.S. greenback and manufacturing hours labored.

The main indicator fell for 2 major causes. First, there was a rise within the worth of the U.S. greenback in July.

“A rise within the worth of the greenback creates challenges for companies comparable to agriculture and manufacturing, which compete in worldwide markets,” Thompson mentioned.

Second, there was a decline in airline passenger counts. This drop is probably going a response to a pointy enhance in ticket costs, Thompson mentioned.

Regardless of these challenges, Nebraska companies stay assured concerning the future. Respondents to the July Survey of Nebraska Enterprise reported plans to extend gross sales and employment over the subsequent six months.

“The small companies that reply to the Survey of Nebraska Enterprise proceed to see alternatives to develop, regardless of rising rates of interest and different challenges dealing with the Nebraska economic system,” Thompson mentioned.

Learn the complete report and a technical report describing the indicators.