Date of this Version
The Leading Economic Indicator, May 17, 2013
The Leading Economic Indicator – Nebraska (LEI-N) rose by 1.16% during April 2013. The increase in the LEI-N, which predicts economic growth in the state six months in the future, suggests moderate economic growth in Nebraska during the fall of 2013. Looking at individual components of the LEI-N, five of the six components of the LEI-N rose during April, while the sixth component, manufacturing hours, remained unchanged. Single-family building permits rose, rebounding from a sharp decline in March. Airline passengers counts also expanded in April, along with business expectations. In particular, respondents to the Survey of Nebraska Business projected an increase in business sales and employment over the next six month. Initial claims for unemployment insurance dropped during April, a sign of strength in the labor market. Finally, after two months of sharp increases, the value of the U.S. dollar declined during April. This will provide relief to exporters who benefit from a lower-valued dollar.