LINCOLN- While Nebraska's manufacturing industry may be "losing steam," it's still chugging along better than most of its neighboring states and the nation, at least according to Creighton University's Ernie Goss, whose Economic Forecasting Group produces a monthly business conditions report based on a survey of manufacturing surplus in a nine-state area.

"There's little doubt, almost everything confirms, that the manufacturing sector is either in a recession or right on the edge of it," said Goss, "But Nebraska has held up better than the region and the nation." Regionally, the business conditions index overall for the nine states slumped in November to 42.2, nearly eight points below the growth neutral threshold.

Goss called that decrease the lowest reading recorded since June 2020. Nebraska's index sank, from 48.8 in October to 39.3 in November, but employment in the sector was boosted over the past year by 2,000. Hourly manufacturing rates also climbed by 6.3%, far above the national average of 3.4%. Asked to identify the greatest economic threat for their firm over the next six months, six of the 10 supply chain managers surveyed said a recession, two said labor shortages, one said inflation, and another said higher interest rates.

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