University of Nebraska-Lincoln economists are predicting “moderate” economic growth for the state in early 2014.
The Bureau of Business Research’s monthly economic forecast indicator decreased slightly in October following two months of “solid” growth in August and September, economist Eric Thompson said.
Two of the indicator’s six measures improved in October: The number of single-family building permits increased and the dollar exchange rate became more favorable for exports.
But a decline in business owners’ expectations dragged down the index.
“This was caused in part by a sharp drop in crop prices, but the federal government shutdown also may have been a factor,” Thompson said, noting that many respondents completed a survey during the shutdown.
Airline passenger counts and manufacturing hours fell slightly, and initial unemployment claims increased compared with low levels in September.