Nebraska's Economy Decreased Output in July, According to Survey

Nebraska’s economic performance dropped in July, according to the latest Creighton University ‘Mid-American Index.’ Nebraska’s overall grade fell from 74.5 to 70.4 from June to July.

Dr. Ernie Goss leads the survey and research and said the numbers indicate a strong economy and growth will likely continue but not as rapidly as earlier this year after pandemic reopening.

“We’re talking about labor shortages, supply bottlenecks that continue to restrain growth in Nebraska and the other eight states,” he said. “It’s transportation issues slowing inputs to the companies and outputs from the companies.”

Goss said Nebraska’s 5% decrease pales in comparison to a nearly 30% decrease at the beginning of the pandemic.

Supply shortages are increasing wholesale and consumer prices. Most supply managers said customers will absorb inflating prices, while others project the company’s profits to take the hit, according to the survey.

Out of nine states in the survey, Nebraska was one of six states that saw an index decrease from June to July. The overall nine-state index fell from 73.5 to 73.1.