5 of the 6 components in the February Nebraska Leading Economic Indicator were higher which helped push the overall Indicator up 3.48%. Manufacturing hours worked was the strongest component.
The six components are business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar and manufacturing hours worked. Five of the components improved during February, including three that improved significantly.
Dr. Eric Thompson, director of the UNL Bureau of Business Research said, “Nebraska manufacturing continues to benefit from strong demand for food products, as well as recent general improvements in the national manufacturing industry. In addition, Nebraska businesses reported plans to increase both sales and employment over the next six months.”
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