Nebraska Monthly Economic Indicators: May 16, 2014

Authors

Eric Thompson, University of Nebraska-LincolnFollow
William Walstad, University of Nebraska-LincolnFollow
Shannon McClure, University of Nebraska-LincolnFollow
Mihdi Vahedi, University of Nebraska-LincolnFollow

Date of this Version

5-2014

Document Type

Article

Comments

Prepared by the UNL College of Business Administration, Department of Economics

Abstract

The Leading Economic Indicator – Nebraska (LEI-N) rose by 1.89% during April 2014. The rise in the LEI-N, which predicts economic growth in the state six months in the future, suggests solid growth in the Nebraska economy in the second half of 2014. Among the growing components of the leading economic indicator, there was a sharp drop in initial unemployent claims, suggesting solid improvement in labor market conditions. There also was solid improvement in business expectations. Specifically, respondents to the Survey of Nebraska Business predicted an increase in sales and employment at their business over the next six month. At the same time, building permits for single-family homes rose on a seasonally adjusted basis and there was a decline in the value of the U.S. Dollar. This decline in the dollar is a positive for Nebraska’s exporters. Among the remaining components of the leading indicator, there was a modest decline in both manufacturing hours and airline passenger counts.