Columbus, OH – Today's strengthening jobs number from the U.S. Bureau of Labor Statistics is being fueled in part by robust growth from the nation’s nearly 200,000 mid-sized firms, which are defined as companies with annual revenues between $10 million to $1 billion. According to new data from the National Center for the Middle Market (NCMM), 70 percent of business executives surveyed in June are projecting gross revenue growth in the next year. That number is up from 59 percent at the end of Q1.
“U.S. businesses, and the middle market sector in particular, appear to have shrugged off the weak first quarter GDP results,” said Thomas A. Stewart, Executive Director of the NCMM. “Middle market leaders are more optimistic in their revenue growth projections, which suggests ongoing job creation and continued momentum in the overall economy.”
These results are part of the NCMM’s Middle Market Indicator, which is a quarterly survey of 1,000 C-Suite executives that reports on revenue growth, job creation, economic confidence, investment outlook, and business challenges. According to the latest MMI released earlier this year, mid-sized firms are projected to create 59 percent of all new jobs in 2014. The second quarter report will be released on July 23, 2014.
About the National Center for the Middle Market
The National Center for the Middle Market (NCMM) was founded in 2011 in partnership with GE Capital and is located at The Ohio State University Fisher College of Business. The Center is the nation’s leading research institution dedicated to helping middle market companies be more competitive through impactful research, thoughtful advocacy, and educational programs. To learn more about the Center or the MMI, visit www.middlemarketcenter.org.
CONTACTS:
Jared Favole
Hamilton Place Strategies for the National Center for the Middle Market
jfavole@hamiltonps.com
(202) 822-1205
Jeff Caywood
GE Capital
jeff.caywood@ge.com
(513) 530-7028
Ann Hamilton
The Ohio State University Fisher College of Business
hamilton.847@osu.edu
(614) 292-8150