ABI survey: Two-thirds of companies expect sales to increase in second quarter
BPC Staff Mar 10, 2021 | 5:20 pm
1 min read time185 wordsAll Latest News, Economic Development, Retail & Business
Iowa manufacturers anticipate strong sales in the second quarter, according to results of the latest ABI Quarterly Iowa Business Survey. “This is fabulous news for Iowans, especially when you consider the pandemic and where we were a year ago,” ABI President Mike Ralston said in a news release.
The survey, which included responses from 31 ABI member companies, showed that 65% of survey respondents expect sales to expand over the next quarter, up from 55% in the first quarter and 47% one year ago.
Ralston attributes the extra growth to pent-up demand and low inventories. “Many people saved more money during the pandemic,” he said. “Now they’re ready to spend that money.”
The survey, conducted earlier this month, also found:
- 45% expect the number of employees in their business to grow in Q2. That compares with 52% in Q1 2021 and 19% one year ago.
- 65% plan to make capital expenditures. That compares with 68% in Q1 2021 and 56% one year ago.
About half of ABI’s 1,500 member companies are manufacturers. The association represents nearly every industry in Iowa.
See the full survey results.