Iowa Business Council: Six Month Economic Outlook Negative
April 20, 2020
By Sue Danielson, WHO Radio News
The Iowa Business Council's most recent survey of it's members has found most are predicting a negative economy for the next six months due to the COVID-19 pandemic.
IBC Spokesman Joe Murphy says the pandemic has created a lot of uncertainty and it's difficult to plan for the future. He says orders are down as well.
Murphy notes, however, business and industry in Iowa and the national economy were both very solid before the pandemic. He also says because of tough lessons learned in the past, Iowa's economic diversity will also help the state whether the current storm.
Murphy says businesses have donated more than $1 million to food banks and communities, and have helped make thousands of personal protective equipment items for health care workers.
"The Iowa Business Council was born out of one of the most difficult economic times in Iowa’s history: the Farm Crisis of the 1980s. It is critical for us to stay true to our founding mission to serve as a catalyst for economic growth in Iowa," IBC Board Chair Mary Andringa stated. "As leaders of some of the largest businesses in the state, it is important for us to come together and share insights and ideas to respond to the global pandemic and elevate Iowa’s long-term economic vitality."