ABI Survey Highlights Business Expectations and Challenges for Q4 2024

The Iowa Association of Business and Industry (ABI) has released the results of its latest business survey, highlighting expectations and concerns for the fourth quarter of 2024. ABI sent this survey to its board mid-September. The survey reflects a range of perspectives on sales, workforce stability, and broader economic conditions.

• 56% of respondents expect sales to remain steady in the fourth quarter.
• 53% of respondents plan to make capital expenditures in the fourth quarter, a slight decrease from Q3.
• 43% of respondents anticipate an increase in their workforce, a significant rise from the 14% reported in Q3.
• Economic sentiment remains cautious, with 60% of respondents expressing a neutral outlook on the overall economy.

"While many of our members are maintaining a stable outlook when it comes to sales and employment, uncertainty in the broader economy is evident," said Mike Ralston, ABI President. "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."

The survey highlighted several areas businesses are preparing to tackle in Q4, including product development and upskilling employees. Respondents also cited the importance of managing working capital at year-end, making decisions regarding potential facility expansions, as well as preparing for healthcare renewals.

Other concerns revolved around an unfavorable business climate and regulatory challenges. Some companies are addressing these issues by focusing on automation and new product development to improve efficiencies and remain competitive.

Ralston added, "The complexity of the current business environment requires strategic planning and adaptability. Our members are making the necessary adjustments to stay ahead of these challenges and prepare for what lies ahead."

As Iowa businesses look toward the fourth quarter, many are balancing a stable outlook on sales and employment with the need to navigate pressing challenges across their industries. ABI remains committed to supporting its members and advocating for a pro-business environment in Iowa.

For previous survey results, resources for manufacturers and events, visit www.iowaabi.org.