A survey the Iowa Association of Business and Industry conducted shows nearly half its members expect their company’s sales to grow over the next year.
In its quarterly business survey, conducted in June, the association found that, of 32 respondents, 47 percent expect sales to expand within a year, with 41 percent expecting sales to remain constant and 12 percent expecting sales to retract.
In terms of expected sales growth, the association’s figures represent a 26 percent drop from responses in the previous quarter and a 27 percent drop from responses a year ago.
Association President Mike Ralston described the decrease as “dramatic” in an accompanying statement Monday but added, “The fact that almost half of Iowa companies expect growth is great news for Iowa’s economy.”
The association’s latest survey results also show that 53 percent of responding members expect their number of employees to stay the same over the next quarter, compared to 38 percent who anticipate employee count to grow and 9 percent who expect a decrease.
Seventy-five percent of respondents plan to make capital expenditures over the next quarter, the survey shows.
A shortage of skilled labor remains the top concern for association members this year, the association says.