Iowa Manufacturers Expect Strong Results, Sobering Concerns in Q4
September 14, 2020
Iowa manufacturers expect strong results in the fourth quarter. However, any positive economic news could be overshadowed by sobering concerns related to social unrest and the pandemic.
That’s according to the results of the latest ABI Quarterly Iowa Business Survey.
“I continue to be pleasantly surprised by the generally strong results that have been projected,” said Mike Ralston, president of the Iowa Association of Business and Industry.
“Overall, most members are doing well,” said Ralston. “Others are having a much more difficult time.”
ABI members also identified issues they’re facing for the first time.
“They’re starting to see the impact of social unrest and COVID-19 on employee well-being and engagement.”
Additional new issues were concerns about schools staying open and childcare shortages.
ABI surveys its board member each quarter about anticipated sales, hiring level and issues facing business. The fourth quarter survey, which board members took in early September, found:
- 47% of survey respondents expect sales to expand over the next quarter. 43% expect sales to stay about the same.
- 53% expect the number of employees in their business to stay the same. 37% expect that number to grow.
- 57% of survey respondents plan to make capital expenditures in Q4. That’s compared to 60% in Q3.
The survey results may be found at https://bit.ly/33cICPf.