Talk about a recession is alive and well in Nebraska. 

According to a new study, the economy in the state is expected to slow down in 2023 before picking back up in 2024 and 2025.

That report from the University of Nebraska and Nebraska’s Business Forecast Council blames most of the downturn on rising interest rates.

At the same time there is a bit of hope out there.

The experts tell us it is still possible the economy from Scottsbluff to Omaha might avoid a recession, but it depends on two key factors.

“The first is the size and pace of the decline in property values and the second is the degree to which employers choose to retain scare workers,” says K.H. Nelson, Professor, and chair of economics at NU.

The report also says the outlook for agriculture is positive in the state, with farm income expected to remain at $8 billion in 2023, a near record high.