Statewide, Iowa (RI) – Iowa’s economy saw a significant upward bounce during the past month, but analysts fear the volatility of the current international trade climate will mean a big drop is likely for this coming month and months ahead.
The latest Creighton University survey of supply managers in Iowa and eight other Midwestern states during March showed the best overall numbers since July of 2022, but Creighton economist Ernie Goss says fears over a looming trade war cloud everything.
Goss says he’s not supportive of the tariffs, which were announced by President Trump this past Wednesday. He says tariffs are “really, really causing issues for the manufacturers.” The survey gauges the economy on a zero-to-100 scale, with 50 being growth neutral. The overall index for Iowa in March exceeded 56, a tremendous jump from around 44 in February.
Goss says recent declines in the value of the dollar helped make American-made goods more competitively priced abroad, which pushed new export orders up. For the first time in a long time, Goss says a large number of supply managers across the Midwest reported having more applicants than openings.
According to U.S. International Trade Administration data, Goss says the Iowa economy began the year with $1.1 billion in manufacturing exports, compared to $1.2 billion for the same period in 2024, for a 7.6% reduction.
KIWA Staff Photo
