Farm Economy Should Help Nebraska Avoid Recession
A business group says Nebraska's strong farm sector will help the state evade recession and outperform the nation's economy.
The Nebraska Business Forecast Council, a group of 11 economists and professionals from utilities, chambers of commerce and educational institutions, says Nebraska's overall economy isexpected to grow in 2008.
The council says Nebraska farm income will rise 24.7 percent this year but is expected to slow in 2009 to 9.3 percent growth. For 2008, employment growth will be weak at 1.2 percent but isexpected to recover slightly to 1.5 percent next year.
Nonfarm income is estimated to grow steadily through 2010.