ABI's Latest Quarterly Survey Reveals Diverse Business Outlooks for the Upcoming Quarter
September 29, 2023 | Download PDF
DES MOINES, Iowa – Each quarter, the Iowa Association of Business and Industry (ABI) sends a Quarterly Business Survey to provide a comprehensive snapshot of the industry's current state and future trajectory. The survey for the fourth quarter of 2023 was sent to ABI board members mid-September.
Key findings include:
- Sales Expectations: According to ABI's survey, businesses are displaying a balanced outlook on sales for the next quarter. Approximately 39% of respondents anticipate sales to expand, mirroring the same percentage who expect sales to remain stable. Notably, 21% of respondents are cautious, anticipating a reduction in sales. This balanced perspective highlights the resilience and adaptability of businesses in today's dynamic market.
- Employment Prospects: When it comes to employment, the survey results show a more optimistic tone. A significant 46% of respondents anticipate an increase in the number of employees within their organizations over the next quarter. Meanwhile, only 17% expect a decrease in employees. These findings are indicative of the confidence businesses have in their ability to grow and thrive, leading to job creation and economic stability.
- Capital Expenditure Plans: The survey also revealed that most respondents, 64%, have plans to make capital expenditures in the upcoming quarter. These investments underline the commitment of businesses to innovate and expand their operations, contributing to economic growth. On the flip side, 35% of respondents do not have immediate plans for capital expenditures, perhaps reflecting a cautious approach in certain sectors.
Compared to last quarter, these economic indicators remain strong. Although there is continued uncertainty, Iowa employers are positioned to lead through any downturn.
“Iowa is doing things right,” said Mike Ralston, ABI President. “With recent news of the state government surplus, accelerated business tax reductions, and regulatory changes, Iowa businesses are primed for continued growth. Iowa businesses and our state leaders have made sound decisions that continue to insulate us from the extremes.”