Nebraska’s leading economic indicator fell during June, according to the most recent report from the University of Nebraska-Lincoln.
The leading indicator, a composite of economic factors that predict economic growth six months into the future, decreased by 0.29%. The decline was the first decrease in the indicator since October.
Eric Thompson, director of the Bureau of Business Research at UNL, said factors that led to the drop included a decline in manufacturing hours worked, fewer air passenger enplanements and an increase in initial claims for unemployment.
Business expectations also moderated during June. Respondents to the June Survey of Nebraska Business reported plans for only a modest increase in employment over the next six months.
“The drop in the leading indicator suggests that the pace of economic growth will slow in Nebraska towards the end of 2019,” according to Thompson.
The full report is available at the Bureau of Business Research website, bbr.unl.edu.