Iowa Manufacturers Look to Innovation and Technology in the First Quarter of 2023

Iowa manufacturers expect to make capital expenditures in the first quarter of 2023, according to the latest Iowa Association of Business and Industry (ABI) Quarterly Business Survey. ABI sent this survey to its board in late November. 

• Survey results show 67 percent of respondents plan to make capital expenditures in the first quarter of 2023, which is a slight increase from the fourth quarter of 2022.
• Twenty-three (23) percent of respondents expect sales to expand in the first quarter of the new year, a 15 percent decrease from the fourth quarter of 2022. 47 percent expect sales to stay about the same in Q1.
• Sixty-seven (67) percent of respondents expect the number of employees in their businesses to stay about the same. Only 8 percent expect the number of employees to decrease.

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