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Iowa Business Council sees resilience for next six months
Third-quarter survey notes concerns in sales, employment
While the Iowa Business Council’s third-quarter economic outlook still scored strongly for the next six months, numbers fell in three key categories.
The overall survey index for the next six months was 65.41. Anything above 50 is considered positive, and this was the fifth consecutive positive quarter, the IBC noted in a news release Wednesday.
Those declines were:
- Sales expectations by 1.25 points, to an index score of 70.
- Employment index by 2.5 points, to 66.25. While the majority of respondents (55%) expect their workforce to grow, 40% do not anticipate a change in employment.
- Capital spending decreased 1.25 points, to an index score of 66.25.
But as IBC Executive Director Joe Murphy pointed out to The Gazette, all these scores were above 50.
The declines were “a natural leveling off” after the bounce-back of this summer, Murphy said. He cited two key concerns that rose to the top in the survey — not enough employees and supply chain issues — from shipping to packaging — that affect many sectors.
The strong overall scores, he added, reflect the health and resiliency of Iowa’s economy.
IBC’s 22 member companies include Vermeer Corp., Alliant Energy, Casey’s General Stores, Collins Aerospace, Hy-Vee, MidAmerican Energy, Pella Corp., the University of Iowa Health Care and UnityPoint Health; Wellmark Blue Cross Blue Shield of Iowa.
An Alliant Energy employee installs a streetlight on F Avenue NW in Cedar Rapids. (The Gazette)
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