Nebraska’s leading economic indicator rose during October, according to the most recent report from the University of Nebraska-Lincoln.
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The leading indicator, a composite of economic factors that predict economic growth six months into the future, rose by 1.26%.
“The October increase implies continued economic growth in Nebraska through the spring,” said economist Eric Thompson, director of the Bureau of Business Research at the university.
Thompson said that the rise in the leading indicator was driven for the second straight month by solid business expectations and a robust labor market. Respondents to the October Survey of Nebraska Business reported plans to increase sales and employment over the next six months. Initial claims for unemployment insurance also fell during October on a seasonally adjusted basis. Building permits for single-family homes rose during October.