IBC's 2023 Q2 Economic Outlook Survey Released

June 28, 2023

IBC Projects Positive Six-Month Economic Outlook
Across the board index increases represent a strong Iowa economy   

DES MOINES, IA – The Iowa Business Council (IBC) has released its second-quarter Economic Outlook Survey (EOS) for 2023. The report measures member expectations for sales, capital spending and employment for the next six months. If the index measures above 50, sentiment is positive. The second-quarter survey's overall economic outlook index is 64.17, an increase of 4.45 from the 2023 first-quarter report.

The survey’s findings indicate a strong confidence in Iowa’s economy and represent a significant increase in optimism across all areas measured by the IBC compared to the previous quarter’s results.

Specifically, sales expectations among IBC members increased by 3.47 to a value of 68.75. Capital spending expectations increased by 4.31 to 61.25 and employment expectations increased by 5.56 to a value of 62.50.

Concerns relating to workforce attraction and retention remain the number one concern with 90% of surveyed IBC executives listing it as a primary business challenge. An unfavorable business climate tied specifically to supply chain challenges was the second primary concern cited by 55% of IBC executives. The cost of products and services continues to round out the top three business challenges with 50% of IBC members reporting inflation as a core concern.

From a workforce perspective, 80% of IBC executives surveyed report that it is somewhat to very difficult to hire employees compared to 94% from the first-quarter survey.

“IBC members remain confident in Iowa’s economic position,” stated Phil Jasper, President of Mission Systems for Collins Aerospace and Chair of the Iowa Business Council. “Despite a narrative of an impending downturn in the national economy, Iowa business leaders are optimistic about the future here in Iowa.”

“These results show a continued resiliency among IBC companies and the state of Iowa as a whole,” said Iowa Business Council President Joe Murphy. “Iowa business leaders remain agile and skilled in their ability to plan for potential future disruptions while continuing to put forward pro-growth strategies throughout our state.”

The Economic Outlook Survey has been completed by IBC members on a quarterly basis since 2004. The report provides insight regarding the projected trends for the state of Iowa, which can be used for business and economic planning. The reported trends have a state-wide impact, especially when considering that IBC companies have a presence in all 99 counties. To review previous Economic Outlook Surveys, please visit www.iowabusinesscouncil.org/news/eos.

 

Return to News

Related News

The Iowa Business Council (IBC) has released its second quarter Economic Outlook Survey for 2024. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its final quarter Economic Outlook Survey for 2023. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Economic Outlook Survey has been completed by IBC members on a quarterly basis since 2004. The report provides insight regarding the projected trends for the state of Iowa, which can be used for business and economic planning. The reported trends have a state-wide impact, especially when considering that IBC companies have a presence in all 99 counties.

read more

The Iowa Business Council (IBC) has released its final quarter Economic Outlook Survey for 2023. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its first-quarter Economic Outlook Survey for 2023. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its fourth-quarter Economic Outlook Survey for 2022. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its third-quarter Economic Outlook Survey for 2022. The report measures member expectations for sales, capital spending and employment for the next six months. 

read more

The Iowa Business Council (IBC) has released its second-quarter Economic Outlook Survey for 2022. The report measures member expectations for sales, capital spending and employment for the next six months. 

read more

The Iowa Business Council (IBC) has released its first-quarter Economic Outlook Survey for 2022. The report measures member expectations for sales, capital spending and employment for the next six months. 

read more

The Iowa Business Council (IBC) has released its fourth-quarter Economic Outlook Survey for 2021. The report measures member expectations for sales, capital spending and employment for the next six months. If the index measures above 50, sentiment is positive. The fourth-quarter survey's overall economic outlook index is 68.86. In addition to being the sixth positive quarter in a row read more

The Iowa Business Council (IBC) has released its third-quarter Economic Outlook Survey for 2021. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its second-quarter Economic Outlook Survey for 2021. The report measures member expectations for sales, capital spending and employment for the next six months.

read more

The Iowa Business Council (IBC) has released its first-quarter Economic Outlook Survey for 2021. The report measures member expectations for sales, capital spending and employment for the next six months. If the index measures above 50, sentiment is positive. The first-quarter survey's overall economic outlook index is 60.42. This marks the third positive quarter in a row, projecting continued confidence as the state emerges from the pandemic.

read more

The Iowa Business Council (IBC) released its fourth-quarter Economic Outlook Survey for 2020. The survey's overall economic outlook index rose to 62.5, increasing 3.78 points from the third quarter of 2020. This marks the second quarter in a row where the index has measured above 50, a finding that represents continued positive economic sentiment as the state emerges from the pandemic.

read more

The Iowa Business Council (IBC) released its fourth-quarter Economic Outlook Survey for 2020. The survey's overall economic outlook index rose to 62.5, increasing 3.78 points from the third quarter of 2020.

read more

The IBC's Economic Outlook Survey shares projected trends for the state's economy, which can then be utilized throughout Iowa for business and economic planning purposes. IBC members participate in this survey quarterly.  Check out the full report for the latest anticipated trends in employment, sales, and capital spending. 

read more

The IBC's Economic Outlook Survey shares projected trends for the state's economy, which can then be utilized throughout Iowa for business and economic planning purposes. IBC members participate in this survey quarterly.  Check out the full report for the latest anticipated trends in employment, sales, and capital spending. 

read more

The IBC's Economic Outlook Survey shares projected trends for the state's economy, which can then be utilized throughout Iowa for business and economic planning purposes. IBC members participate in this survey quarterly.  Check out the full report for the latest anticipated trends in employment, sales, and capital spending. 

read more
Iowa Business Council today released its Q3 2019 Economic Outlook Survey – a composite of members expectations for sales, capital spending and employment for the next six months. Confidence weakened among Iowa business leaders, likely due to political and global market uncertainty and a disruptive regulatory climate. read more

The Iowa Business Council (IBC) members express a positive overall business sentiment according to the quarterly economic outlook survey released today. The survey results reinforced a strong economy and overall growth for the next six months. In addition, members revealed potential disruptors for the following year: 35 percent of members cited trade and its global economic impact as factors and another 15 percent said weather could pose a problem in agricultural sectors.

read more

In the Iowa Business Council (IBC) quarterly economic outlook survey, members express economic optimism but challenges remain in attracting and retaining a quality workforce. This has been a consistent theme throughout the past year for IBC members, with nearly 70 percent of IBC members citing either engineering, IT or healthcare as key job positions they are unable or struggling to fill within the state.

read more

IBC members report high hopes for 2019 in the IBC's latest economic outlook survey. This optimism is bolstered by the fact that two thirds of the members anticipate higher sales in the next six months. To support this projected sales growth, 60 percent of respondents expect to add to their workforce, and half project an increase in capital spending. 

read more

Iowa's economy is at its strongest in 10 years according to the IBC's latest quarterly economic outlook survey. This quarter's index number for capital spending, 70, came in as the highest recorded number for this metric in the past ten years, while the overall index number from the second quarter of this year was the highest overall index number reported in ten years. 

read more

Iowa Business Council members express continued economic optimism in the IBC’s quarterly economic outlook survey released today, with 90 percent of IBC members anticipating higher sales in the next six months. To support this projected sales growth, two thirds of IBC members expect to add to their workforce, and 60 percent project an increase in capital spending. 

read more

Iowa's largest employers expect continued growth for the 2018 economy, with 80 percent of the Iowa Business Council members anticipating higher sales in the next six months. To support this projected growth, IBC members expect increases in both capital spending and employment. 

read more

Iowa's largest companies report a positive outlook for the 2018 economy.  According to the Economic Outlook Survey, a majority of the Iowa Business Council members anticipate an increase in sales, capital spending, and employment during the first half of 2018. 

read more