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Iowa
For the month of October 2009, reported November 2, 2009
For a second straight month, Iowa’s Business Conditions Index bounced above growth neutral. The index, a leading economic indicator from a survey of supply managers in the state, climbed to 55.5 from 52.9 in September and 48.9 in August. Components of the overall index for October were new orders at 60.9, production at 60.8, delivery lead time at 61,6, employment at 48.6, and inventories at 45.3. Since the national recession began in December 2007, Iowa has lost 3.0 percent of its jobs with 2.9 percent of the loss occurring since October 2008. “Even though Iowa’s unemployment rate has stabilized, based on our surveys over the past several months, I expect the state’s jobless rate to climb by another 0.3 percent by the end of the year,” said Goss.