In the quarterly business survey sent to the Iowa Association of Business and Industry board members, 45% of respondents expressed optimism for sales growth in the upcoming quarter, and 42% of respondents anticipated their sales to remain steady, indicating stability in the market.

One significant trend highlighted by the survey was workforce stability, with 57% of respondents expecting their workforce size to remain relatively unchanged. The number aligns with earlier surveys conducted this year, suggesting a consistent employment landscape.

The survey also revealed that 68% of participants plan to make capital expenditures during the third quarter of 2023, a decrease compared to the second quarter but a signal that most businesses have continued to actively invest in their operations and infrastructure.

Businesses are actively working on large internal initiatives aimed at enhancing infrastructure, building capacity and improving their market position. Additionally, supply-chain improvements remain a key area of focus.

“These survey results indicate both opportunities and areas of caution for businesses,” ABI President Mike Ralston said in a prepared statement. “Understanding the sales expectations, workforce stability and capital expenditure plans can assist businesses in making informed decisions that drive growth and foster resilience.”

Each quarter, ABI sends a quarterly business survey to provide a comprehensive snapshot of the industry’s current state and future trajectory. The survey for the third quarter of 2023 was sent to ABI board members in mid-June.