Iowa Business Council: sales up, capital investments down
Omaha, NE – The Iowa Business Council publishes the quarterly economic indicators report.
The overall index is 61.3, which means business owners surveyed for the report feel positive about the economy. An index above 50 means economic sentiment is positive. The report's capital spending and employment indexes dropped in the third quarter, while sales were up. I-B-C Executive Director Elliott Smith is cautiously optimistic about the fourth quarter. He says, "I think you are seeing just a little caution there, in investing in additional machinery or equipment or buildings, with capital spending and employment. Smith says he thinks companies are still working to move back to those levels they were at prior to the downturn.
He says if capital investments increase during the fourth quarter, it'll indicate economic recovery. The Iowa Business Council's economic indicators report is based on a survey of 24 members representing the state's 20 largest businesses.