(Des Moines, IA) -- The Iowa Business Council (IBC)'s third quarter Economic Outlook survey for 2022 shows expectations for sales, capital spending, and employment are positive for the next six months. The survey, however, also marked three straight quarters of declining overall optimism.
The third-quarter survey's overall economic outlook index is 58.75, down 5.13 index points from the second-quarter report. An index above 50 is considerd positive. Joe Murphy of the IBC says scores further dropped in other categories as long-term concerns relating to workforce attraction, inflation, and overall business climate continue to mount.
“While IBC members remain optimistic about the future health of our economy, there is a growing concern as national and international challenges continue to negatively impact Iowa businesses,” stated Tim Yaggi, President & CEO of Pella Corporation and Chair of the Iowa Business Council. “Our policy priorities for next year will continue to focus on areas that improve Iowa’s business competitiveness and fulfill our workforce needs. We believe a collaborative effort with policy makers can help mitigate our economic challenges and keep our state’s economy healthy.”
“Iowa has always weathered economic headwinds more effectively than other states and today’s results continue to showcase our state’s resiliency in the face of adversity,” said Iowa Business Council Executive Director Joe Murphy.
The Iowa Business Council is made up of the state's 20 largest employers.
Photo: Iowa Business Council