IBC's 2023 Q4 Economic Outlook Survey Released

January 11, 2024

IBC Projects Positive Six-Month Economic Outlook
2024 opens with continued confidence in Iowa’s economy   

DES MOINES, IA – The Iowa Business Council (IBC) has released its final quarterly Economic Outlook Survey (EOS) for 2023. The report measures IBC 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 59.65, a decrease of 0.27 index points from the 2023 third-quarter report.

The fourth-quarter survey reveals minimal changes in the overall outlook index although several categories experienced larger shifts. IBC members retain a positive sentiment regarding Iowa’s overall economy.

Q4 sales expectations among IBC members decreased 4.01 to a value of 57.89. Capital spending expectations increased by 6.40 to 67.11, while employment expectations decreased by 3.19 to a value of 53.95.

Concerns relating to workforce attraction and retention remain the number one concern with 74% of surveyed IBC executives listing it as a primary business challenge. Tied for second at 53% were an unfavorable business climate (national supply chain, infrastructure, and regulations) and the cost of products and service inputs.

From a workforce perspective, 85% of IBC executives surveyed report that it is somewhat to very difficult to currently hire employees, down from 90% from the third-quarter survey.

“Iowa’s economy is in a strong position as we enter 2024,” stated Phil Jasper, President of Raytheon, and Chair of the Iowa Business Council. “Our members remain optimistic about the future growth prospects here in Iowa that will lead to high-quality jobs and innovations throughout our state.”

“With the start of the legislative session, we look forward to working with members of the Iowa General Assembly and Governor Reynolds as we all work towards creating a more prosperous state for everyone,” said Iowa Business Council President Joe Murphy.

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.

###

About the Iowa Business Council

The Iowa Business Council (IBC) is a nonpartisan, nonprofit organization whose 22 members are the chief decision makers of major Iowa employers. Employing over 150,000 Iowans, IBC member companies have invested billions of dollars of capital in Iowa's commercial infrastructure; lead the way in technology innovation, R&D, and grants procured; and are often the driving financial and volunteer forces behind philanthropic efforts all over the state.
 

IBC member companies include: Alliant Energy; Atlantic Coca-Cola Bottling Company; Casey’s General Stores, Inc.; Collins Aerospace; Corteva Agriscience; Deere & Company; Fareway; HNI Corporation; Hy-Vee, Inc., Iowa Bankers Association; Kent Corporation; MercyOne; MidAmerican Energy Company; Pella Corporation; Principal; Ruan Transportation Management Systems; The Weitz Company; UnityPoint Health; Vermeer Corporation; Wellmark Blue Cross Blue Shield of Iowa; Wells Enterprises, Inc; and Workiva.

 

Return to News

Related News

The Iowa Business Council (IBC) has released its third-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 second-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