Indicators point to continued slowing in Iowa economic growth
Wednesday, July 03, 2019
IOWA ECONOMIC INDICATORS DIP: The Iowa Leading Indicators Index slipped two-tenths of 1 percent in May to a score of 107.1 — marking the second consecutive month of negative change after a flat March.
Seven of the eight index components followed by the Iowa Department of Revenue were negative in May, with gains in diesel fuel consumption being the only positive contributor.
The negative contributors — from largest to smallest — were the agricultural futures profits index, the new orders index, residential building permits, the national yield spread, average manufacturing hours, the Iowa stock market index and average weekly unemployment claims (inverted).
The annualized six-month index change moderated somewhat to minus 1.7 percent in May from a revised negative 1.9 percent in April, but remained close to the minus 2.0 percent threshold that signals a downturn, state officials noted.