Inflation finally backing off as Iowa’s economy sees slow, steady growth

Omaha, Nebraska — The monthly survey of business leaders in Iowa and eight other Midwestern states shows the regional economy is still growing, but slowly. Creighton University economist Ernie Goss says June was the fifth straight month where the overall business conditions index was above growth neutral, or 50 on a scale of zero to one-hundred.

Only one in five employers surveyed reported job gains during June, as Goss says “labor hoarding” remains rampant across the region.

High inflation rates have been a consistent concern in recent months, but Goss says all signs are pointing to inflation finally leveling off.

Iowa’s overall business conditions index rose from 51.9 in May to 55.4 in June, mirroring the region’s steady but slow growth. According to data from the U.S. International Trade Association, Iowa expanded exports by 10.6% for the first four months of this year, compared to the same time-period last year, with machinery equipment export growth of 41.6% leading the way.