MIDDLE MARKET INDICATOR AT A GLANCE
EMployment growth
EMployment growth
EMployment growth
revenue growth
revenue growth
REVENUE GROWTH
SHORT TERM INDEX
SHORT TERM INDEX
SHORT TERM INDEX
economic confidence
economic confidence
economic confidence
CAPITAL INVESTMENT
CAPITAL INVESTMENT
CAPITAL INVESTMENT
SUMMARY VIDEO
SUMMARY video
SUMMAry video
Growth rates recover
After a sharp decline last quarter, the rate of year-over-year revenue growth climbed back to 7.5%. Looking ahead, companies continue to have muted expectations for future revenue growth.
Employment numbers inch back
Employment numbers recovered to finish the year, but numbers remain off the higher rates seen over the past two-and-a-half years. The expected rate of employment growth over the next 12 months is up from last quarter, but still below previous year projections.
5.0%
48%
3.5%
Growth over the past 12 months
Next 12 months projection
of middle market companies reported employment growth over the past 12 months
Compared to 55% in 4Q'18
73%
4.9%
7.5%
Next 12 months projection
Growth over the past 12 months
of middle market companies report increased revenue over the past 12 months
Compared to 79% in 4Q'18
Confidence rebounds
More than four out of five middle market leaders say they are confident in the state of economic affairs in the United States and in their own local economies. And global economic confidence increased most from last quarter.
The middle market's cautious approach to cash management reversed this quarter as the proportion of leaders willing to put an extra dollar to work in their businesses rebounded to 70%.
Investment appetites resurge
The Short Term Index bounced back notably this quarter from 49 to 70. Coupled with rebounding confidence and more willingness to invest, this signals that leaders are more optimistic about the future than they have been in the past six months.
Three-month outlook improves
Will Invest
Compared to 56% in 3Q'19
70%
75
1Q'19
69
2Q'19
49
3Q'19
70
4Q'19
89%
Local Economy
3Q'19 | 81%
83%
National Economy
3Q'19 | 76%
68%
Global Economy
3Q'19 | 55%
Performance Improves, But Caution Bell Still Tolls
