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Report suggests strong economic growth for remainder of 2021 in Nebraska

Three of six indicators trending up
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Posted at 11:25 AM, Jul 28, 2021
and last updated 2021-07-28 12:25:29-04

LINCOLN, Neb. (KMTV) — Following an economic slump during the pandemic, many are hoping for a strong comeback. A new report from the University of Nebraska-Lincoln is predicting “strong economic growth” for the rest of the year.

For the month of June, the report saw a 1.17% leading indicator rise. The increase marks nine consecutive months with an increase.

“The increase in the indicator confirms that economic growth will be strong in Nebraska through the end of the year,” said economist Eric Thompson, director of the Bureau of Business Research and K.H. Nelson Professor of Economics at the university.

The report from the university takes into account six components for its Leading Economic Indicator-Nebraska.

Those include:

  • Business expectations
  • Building permits for single-family homes
  • Airline passenger counts
  • Initial claims for unemployment insurance
  • The value of the U.S. dollar
  • Manufacturing hours worked

Three of those saw an improvement for the month of June.

Businesses expectations were strong and there was a drop in initial claims for unemployment insurance said Thompson.

There were some drops though. Manufacturing hours worked and building permits for single-family homes were down in June.

You can read the full report on the University of Nebraska-Lincoln’s website.

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