There’s a feeling of uncertainty about Iowa’s economy, according to survey results released today by the Iowa Association of Business and Industry (ABI).
“The number of Iowa business leaders concerned about lower sales revenue next quarter stood out,” said Mike Ralston, ABI president. “Most of our members, about half who are manufacturers, traditionally have slower fourth-quarters. But this appears to be beyond seasonal.”
When asked about issues they plan to address in the next quarter, 33% of respondents said lower sales revenue. The survey also found sales expectations for the next year were down 24% compared to survey results from one year ago.
ABI quizzed its board members in September 2019. The survey found:
- 47% of survey respondents expect sales to expand over the next year. 40% expect sales to stay the same.
- 33% of survey respondents expect the number of employees in their business to grow over Q4. 53% expect the number to stay the same.
- 60% of survey respondents plan to make capital expenditures in Q4 compared to 70% in Q3.
- Lower sales revenue, a shortage of skilled labor and tariffs, respectively, were identified as top issues for Q4.
The survey results may be found at https://bit.ly/2mgPSrk.