The results of the Iowa Association of Business and Industry’s business survey on members’ expectations and concerns for the final quarter of 2024 found a steady outlook on sales and employment combined with a focus on efforts to remain competitive amid broader economic challenges.

The survey was sent to ABI’s board members in mid-September.

More than half of respondents, 56%, expect sales to remain steady in the fourth quarter, and 53% plan to make capital expenditures, down from 57% in the last survey.

Economic sentiment remains cautious, as 60% expressed a neutral outlook on the overall economy, according to a news release. Respondents cited concerns around an unfavorable business climate and regulatory challenges.

“While many of our members are maintaining a stable outlook when it comes to sales and employment, uncertainty in the broader economy is evident,” ABI President Mike Ralston said in a prepared statement. “Increased costs of product and service inputs and industry-specific challenges are leading some companies to adjust their plans for the remainder of the year.”

Respondents’ areas of focus as they start the fourth quarter include upskilling employees. On employment, 43% of respondents anticipate an increase in their workforce, up significantly from 14% going into the third quarter.

Other priorities for the end of the year are managing working capital, deciding on potential facility expansions and preparing for health care renewals, a news release said. Some companies are aiming to be more efficient and stay competitive by focusing on automation and new product development.

Past coverage:
Survey: ABI members see economic uncertainty but majority expect workforce stability, continued capital investment in third quarter
Leaders’ outlooks lean positive amid ‘shifting’ landscape, ABI quarterly survey finds