State economists predict modest growth for the state economy this year
State economists predict modest growth for the state economy this year.
University of Nebraska-Lincoln Bureau of Business Research Director Eric Thompson says the bureau expects farm incomes to back-off from their record levels last year. . .
Thompson; "a year"
The state economy is primed for solid progress in 2014, according to a long-range report issued by the Nebraska Business Forecast Council.
University of Nebraska economists project only modest growth for the state economy this year, but solid progress next year.
Business Research Director Eric Thompson at UNL says the bureau predicts the state economy will move forward this year...only slowly. .
Part of the reason Thompson gives is the expiration of the temporary cut to the Social Security payroll tax, that took a bite out of consumer wallets.
Economists with the University of Nebraska-Lincoln say increased taxes will hamper economic growth this year.
UNL Bureau of Business Research Director Eric Thompson says the bureau predicts modest economic growth in Nebraska this year, with a bit more solid growth next year.
Thompson says consumers will have less to spend this year. . .
Thompson; "income is lower"
However, Thompson expects growth to pick up speed starting next year. Overall, Nebraska's economy is predicted to grow modestly in 2013 and solidly in 2014. Farm incomes are expected to slide back from recent all-time highs...but to remain healthy over the next two years.
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(courtesy of Nebraska Radio Network)