Bureau of Business Research
Date of this Version
11-30-2022
Document Type
Article
Citation
Copyright 2022 Eric Thompson, UNL Bureau of Business Research
Abstract
The LEI-N fell by 0.12% in October 2022. The leading indicator, which is designed to predict economic growth six months in the future, has fallen in four of the last six months. Such a decline signals a stagnant economy in Nebraska at the beginning of 2023. Four components of the leading indicator worsened during October. There was an increase in initial claims for unemployment insurance, signaling some softening of the Nebraska labor market. There was also an increase in the value of the U.S. Dollar in October. A rising dollar creates challenges for Nebraska businesses that compete in international markets. Finally, there was a drop in airline passenger counts and building permits for single-family homes during the month.
Comments
Prepared by the UNL College of Business, Bureau of Business Research