Statewide, Iowa – The Iowa Association of Business and Industry (ABI) sees continued uncertainty about factors impacting businesses as it surveys its members on their outlook for the fourth quarter.
ABI President Mike Ralston sums it up this way.
Ralston says finding employees continues to be a concern and has been for several years. He says another element was more important in the last investigation.
He says companies have done a lot of creative things to deal with supply chain issues.
He says it doesn’t look like supply chain issues will go away any time soon.
ABI has 1,500 member companies of all types and sizes in all 99 counties, employing over 330,000 workers. Ralston says one thing stands out among all the concerns about supply chain issues, inflation and the search for workers.
Thirty-seven percent of respondents expect sales to increase in the third quarter of the year. This is down from 48% in the third quarter and 60% in the second quarter of 2022. Eighteen percent expect sales to shrink, an increase of 5% from the last trimestre.