After spiking to 7.2% last quarter, the rate of revenue growth has settled back to 6.3% and is currently in line with the long-term average growth rate. Projections for future growth continue to inch up and expectations are at the highest levels since mid-2015.
Employment growth accelerates
At 4.9%, the rate of employment growth is near the MMI’s all-time reported high and is well above the long-term average growth rate of 3.3%. Expectations for future employment growth are the highest ever reported by the MMI at 4.0%, although the number of
companies saying they will increase employment is down slightly.
Global confidence recovers
Since plunging in mid-2015, confidence in the global economy appears to be recovering and is nearing the highest levels reported by the MMI. As always, global confidence lags behind local and national confidence.
Investment plans stay strong
Approximately two-thirds of middle market companies continue to report that they would invest extra dollars, while a third of businesses prefer to save their money.
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