Manufacturing expected to help drive Nebraska economy
LINCOLN, Neb. (AP) — An economic forecast predicts Nebraska farm income will drop nearly 7 percent this year before rebounding in 2019 and 2020.
The three-year forecast report released Friday by the University of Nebraska-Lincoln Bureau of Business Research and the Nebraska Business Forecast Council says the state’s economy will still expand, thanks to growth in manufacturing, construction and service industries.
Economist Eric Thompson is director of the research bureau, and he says the growth “is sufficient to exceed inflation and population growth, meaning real per-capita income in Nebraska will grow from 2018 to 2020.”
He expects nonfarm income to grow between 3.6 percent and 3.8 percent each year over 2018, 2019 and 2020.