Lincoln, Neb., July 24, 2020 – Nebraska’s leading economic indicator rose during June 2020, according to the most recent report from the University of Nebraska-Lincoln.
The leading indicator rose by 1.72% in June. Increases in both May and June followed a sharp decline in the LEI-N in March and April.
“The June increase confirms that the Nebraska economy is steadily recovering from the shock caused by the Covid-19 Pandemic,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
“The recovery of the Nebraska economy is broad-based,” according to Thompson. All components of the leading economic indicator improved during June. The slow recovery in airline passenger enplanements continued. There was also a small drop in initial claims for unemployment insurance while manufacturing hours-worked and building permits for single-family homes increased modestly. Business expectations also were positive, as respondents to the June Survey of Nebraska Business reported plans to increase employment at their businesses over the next 6 months. Finally, there was a drop in the value of the U.S. dollar. A lower dollar improves the competitiveness of agricultural producers, manufacturers, and other Nebraska businesses which export.
The full report and a technical report describing the indicators are available at the Bureau of Business Research website, http://www.bbr.unl.edu.