The March Nebraska Leading Economic Indicator dropped 1.31% following a 3.97% increase in February. The LEI is designed to predict economic growth 6-months into the future.
Two of the six components of the index had small increases; the dollar exchange rate was up 0.05% and business expectations gained 0.55%. Single-family home building permits drop 0.67% and manufacturing hours dropped 1.0%.
Dr. Eric Thompson, director of the UNL Bureau of Business Research told KLIN News, “I think it is appropriate to see the March decline and the February sharp increase together. When taken together that we’ll have rapid economic growth here in Nebraska in mid-2024.”
The detailed report is available here.