Nebraska’s leading economic indicator rose again during February, according to the most recent report from the University of Nebraska-Lincoln.
The leading indicator rose by 1.05%, marking the fifth-consecutive monthly increase.
Eric Thompson, director of the Bureau of Business Research at UNL, said the consistent increases in the indicator suggest the state's economic growth will be solid at least through the summer.
Rising manufacturing activity and strong business expectations were the primary reasons for the improving indicator.
“There was a sharp increase in manufacturing hours worked in February while respondents to the Survey of Nebraska Business reported plans to expand sales and employment,” Thompson said.
Airline passenger counts also rose modestly, but remain far below pre-pandemic levels.
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Among declining factors, there was an increase in the value of the dollar. A higher-valued dollar is challenging for agricultural producers, manufacturers, and other Nebraska businesses that compete in international markets.
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Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.
