DES MOINES, Iowa -- The Iowa Business Council's 2020 first quarter economic outlook index is at it's lowest point since the "Great Recession".
"Our members are rather pessimistic as we look over the next six months. This score is the lowest point on our index since 2009" says Iowa Business Council Executive Director Joe Murphy.
Murphy says IBC members have already lost revenue due to COVID-19, and anticipate they'll lose more.
He says the survey of the state's largest businesses reflects a lot of COVID-19 coronavirus uncertainty.
"Uncertainly with respect to workforce--how does it impact the current and future workforce? Uncertainty on the timing--how long is this going to last? Uncertainty over the course of how this will effect the markets globally. The answer to all those items is, no one knows" Murphy says.
He also says business wonder if the employees they laid off when operations come to a stop can quickly be re-hired when the virus crisis ends.