From the Corridor Business Journal:

Increased levels in sales, capital spending, and employment projected for the coming six months has moved the first quarter Iowa Business Council (IBC) Overall Economic Outlook Survey Index to 54.3 – its first time in positive sentiment territory since the third quarter of 2008.

The index is more than six points higher than three months ago (47.7), and 19 points higher from one year ago (35.3). The survey was completed by the 20 corporate members of the Iowa Business Council during the second half of February, the results of which were released today.

The first quarter sales index is 58, eight points higher than last quarter and 20 points ahead of one year ago. Eighty percent of the CEOs expect steady or increased business activity over the next six months – substantially higher (5 percent), higher (45 percent) or no change (30 percent). Twenty percent of survey respondents expect sales levels to decrease – lower (15 percent) or substantially lower (5 percent).

The first quarter capital spending index is 55, which is six points above last quarter and 24 points higher than the same quarter a year ago. Eighty percent of IBC corporate members expect steady or increased capital spending levels through August – substantially higher (15 percent), higher (15 percent) or no change (50 percent). Twenty percent of survey respondents expect capital spending, i.e., investments in facilities and equipment, to decrease – lower (15 percent) or substantially lower (5 percent).

The first quarter employment index is 50, six points higher than three months ago and 13 points ahead of this same time last year. Eighty percent expect hiring levels for the next six months to remain steady or grow. While none forecasted is as substantially higher, 20 percent saw it as higher while 60 percent foresaw no change. Twenty percent expect employment needs to decrease – lower (20 percent), while none thought it would go substantially lower.

“The survey results are encouraging.  We are beginning to see a broader base of confidence amongst Iowa’s largest employers,” said Tom Aller, president of Interstate Power & Light, in the report. “Most certainly, issues remain about the strength of a recovery. There is also deep concern about the messages lawmakers are sending to companies that have an interest to locate or expand operations in Iowa.”