The Iowa Business Council announced this morning that its Overall Economic Outlook Survey Index (OSI) is up eight points for the second quarter of 2010, an indication that Iowa businesses are remaining resilient during tough economic times, according to the chair of IBC.

The OSI, derived from a quarterly survey of Iowa CEOs that attempts to forecast business prospects, rose to 62.3. The index stood at 54.3 three months ago.

“The IBC Economic Outlook sales index indicator has moved noticeably higher after bottoming back in 2009 Q1,” said Tom Aller, IBC chair for 2010 and president of Interstate Power and Light Co., in a press release. “This suggests companies of all sizes in Iowa are beginning to adjust production levels and inventories in anticipation of increased business activity.”

Despite the rise in the OSI, Aller said the success of Iowa businesses in the next year will also depend on the troubled European economy and reforms instituted by the federal government.

IBC surveys 20 CEOs from Iowa and bases its predictions on three areas: capital spending, sales and employment. The score is based on a 100-point scale, with 50 signifying average prospects.

The survey predicts that capital spending will continue to increase through November, with the index rising to 60 from 55. The employment and sales indexes also rose, with employment jumping to 60 from 50, and sales rising 9 points to 67 from 58.