Economic Growth Expected for Midwest in Coming Months, Then Slow - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Economic Growth Expected for Midwest in Coming Months, Then Slowdown in Spring Expected for Nebraska

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A new survey of bankers suggests that the economy will grow at a healthy pace in rural parts of the Midwest in the upcoming months, however Nebraska could see growth slow by next spring.

The banker survey's overall index rose to 56.1 in December from November's more moderate 54.3 -- any score above 50 suggests growth.

Creighton University economist Ernie Goss says the region continues to benefit from the strength of agriculture and energy businesses.

While this is good news, Nebraska's Leading Economic Indicator fell just over half a percentage point in November, indicating what could be a growth slow down in the spring, according to Eric Thompson, director of University of Nebraska- Lincoln's Bureau of Business Research.

"Changes in the value of the [indicator] in recent months suggest moderate growth in the Nebraska economy during the first quarter of 2014 but that growth will slow during the second quarter," Thompson said.

The Leading Economic Indicator for Nebraska looks at six areas to help predict future economic growth: single-family building permits, airline passenger counts, initial unemployment claims, manufacturing hours, the value of the U.S. dollar, and business expectations reported in the Survey of Nebraska Businesses. 
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