Here is CIRAS’s quick look at major economic indicators for Iowa. For an introduction and a description of the indicators used, see our first post.
| Indicator |
Status |
Underlying Data |
Notes | |
| ISM Manufacturing PMI® |  |
 |
Manufacturing contracted for the fifth consecutive month. All indicators on the national scale registered as contracting, although most were near neutral. | |
| Mid-American Index |  |
 |
Manufacturing in the Midwest continued growth in March. Lead times accelerated and inventories decreased, indicating that supply chain capacity is freeing up. | |
| Iowa Index |  |
 |
Iowa manufacturing experienced minor contraction, driven primarily by significant lead time acceleration and continued reduction in employment. | |
| Iowa New Unemployment Claims |  |
|
Initial unemployment claims in Iowa remain low. Manufacturing initial claims remain below typical pre-COVID historical averages. | |
CIRAS Assessment
Overall, the regional manufacturing economy hovers near neutral, with some regions and industries experiencing slight growth, while others slight contraction. One key item that we notice is that the variation of individual measures within a month and from month-to-month continue to decrease. We see this as a sign of a less volatile manufacturing economy that may be moving closer to balanced supply and demand.
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