After two quarters in which revenue grew at about 6.1%, the growth rate climbed to 7.2% this quarter, mirroring the high levels of growth reported during the second half of 2014 and early 2015.
Employment growth is strong
While the percentage of middle market companies adding to their workforces has remained stable over the past year, mean total year-over-year employment growth is up this quarter to 4.4% compared to the 3.6% reported for the previous two quarters.
Confidence dips slightly
Since experiencing an uptick at the beginning of 2016, confidence in the national, state, and local economies remains relatively stable. However, the confidence levels may have peaked.
Investment plans are restrained
The middle market’s appetite for investment has not fluctuated much over the past four and a half years. Asked what they would do with an extra dollar of profit, a majority of businesses— currently 62%—express a desire to invest the money while fewer than four in 10 firms (38%) prefer to hold onto it as cash.
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