Iowa economy continued slow growth in August
Thursday, October 03, 2013 11:22 AM
A monthly report on eight economic indicators in Iowa shows that Iowa's economy continued to grow in August, fueled largely by more manufacturing, homebuilding, and improved stock prices for Iowa companies.
The Iowa Leading Indicators report issued Wednesday by the Iowa Department of Revenue shows the index rising for the fourth straight month, fueled by growth in all economic indicators except for the agricultural futures profits index. Also, the state's unemployment rate declined for the 35th consecutive month.
Economic growth occurred in diesel fuel consumption, the weekly average of hours worked in the manufacturing sector, manufacturing orders, residential building permits and the Iowa stock market index. The weekly average of new unemployment claims also went down.
Corn, soybean and cattle prices fell. Although hog prices increased moderately, the overall agricultural index declined in August.
The Iowa index was 106.9 in August, up from 106.6 the previous month. An index of 100 represents Iowa's economic index in 1999.