A survey of 21 corporate leaders in Iowa shows some uncertainty in hiring and big-ticket purchases.
The Iowa Business Council’s third quarter overall economic indicator was 61. Those that remains in positive territory, it’s below and the third quarter of 2011. A number above 50 indicates economic growth. The survey looks at employment, capital spending, and sales.
Iowa Business Council executive director Elliott Smith says the most significant decline was in capital spending---which shows some businesses are uncertain about what’s ahead. “There’s a lot on the table that has yet to be resolved, it goes to the national elections, it goes to unfinished tax and budget business with the federal government.”
Smith says the full impact of this year’s drought on business and purchasing decisions isn’t yet known. Part of Iowa is now in an exceptional drought.
The Business Council’s third quarter report shows a majority of business owners expect little to no new hiring over the next six months.