A report issued today by the Iowa Department of Revenue concludes the state’s "leading economic indicators" fell nearly one percent from October to November. It is the largest month-to-month percentage drop since 2006. That’s when financial experts in the Iowa Department of Revenue began issuing an "Iowa Leading Indicators Index" report.
The index reached its peak this past March, but fell in April through November. A combination of declining prices for agricultural commodities like corn and soybeans, an increase in unemployment claims and a decrease the number of hours Iowa manufacturing plants are operating contributed to the decline.
In addition, the financial experts cite a reduction in the number of construction permits for new homes and a decline in diesel fuel sales.