The economy is one of the most important issues people face when planning finances, shopping or visiting the voting booth. The Bureau of Business Research (BBR) wants Nebraskans to know exactly what to expect from the economy by releasing a series of economic reports geared at making research understandable and relevant to families and businesses throughout the state.
Through a series of outreach efforts, Dr. Eric Thompson, director of the BBR, is providing the public with current and frequently updated information about the state and the outlook for key sectors of the Nebraska economy.
Thompson leads BBR research
“The economy changes so quickly and information is available so often we want to provide monthly indicators so people will know what’s happening right away,” Thompson said. “We release the information via press releases, social media, our website and emails to Nebraska businesses. We’ve been doing long range forecasts for over 20 years, but the key advantage now is we’re letting the community know immediately about important changes in the economy.”
Research is shared through the monthly Leading Economic Indicator-Nebraska report, which projects how the economy is likely to function in the next six months based on six components to predict economic growth. A monthly Survey of Nebraska Business, soliciting 500 randomly selected businesses about important issues such as taxes, labor force, healthcare costs, customer demand and other key indexes is also provided. A business outlook is generated encompassing sales and employment prospects, and the Quarterly Business Indicators report includes research conducted for the Lincoln Partnership for Economic Development focusing exclusively on the Lincoln economy.
The next BBR initiative will be a monthly Housing Affordability Index that will focus on the real estate sector for cities throughout the state.