Ag woes will hobble Nebraska economic growth, forecast says
Published: Dec. 10, 2016 at 7:13 AM CST
An economic forecast report says low farm prices and a tightening labor market will limit Nebraska's economic growth over the next three years.
The forecast report released Friday by the University of Nebraska-Lincoln's Bureau of Business Research says moderate economic growth is expected in Nebraska from 2017 through 2019. Employment is expected to rise by between 1 and 1.1 percent a year.
Eric Thompson is director of the bureau, and he says cattle prices and farm incomes are expected to remain at low levels over the next three years. He also says weakness in its agricultural sector "will cap growth in the Nebraska economy, despite strong growth in other sectors such as construction and business services."