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Date of this Version
5-22-2024
Citation
Nebraska Monthly Economic Indicators: May 22, 2024
Bureau of Business Research, University of Nebraska-Lincoln
Abstract
Nebraska Monthly Economic Indicators, May 22, 2024, Bureau of Business Research, University of Nebraska-Lincoln.
Summary
The Leading Economic Indicator-Nebraska rose by 0.42% in April 2024. The increase in the leading indicator, which is designed to predict economic growth six months into the future, implies that the Nebraska economy will grow through the 4th quarter of 2024. There was an increase in manufacturing hours worked in April, as the state and national manufacturing industry continued to strengthen. There was also a drop in initial claims for unemployment insurance, indicating that the labor market remains strong. Lastly, business expectations remained strong in April. Respondents to the April Survey of Nebraska Business reported plans to increase sales and employment over the next six months.