4Q 2016 Middle Market Indicator

The middle market ended a strong year on a strong note with year-over-year revenue growth rates above the five-year average and employment growth rates at an all-time high since the inception of the Middle Market Indicator five years ago. Companies report the highest economic confidence levels to date and most businesses remain willing to invest. Business leaders look forward to a prosperous 2017, with the majority expecting revenue growth to continue its upward trend.


Key Insights

Year-over-year revenue growth fluctuated in 2016, but companies ended the year reporting a growth rate of 6.9%, an increase from last quarter and slightly above the five-year average rate of 6.5%.

Employment growth peaks

More than four in 10 companies (44%) say employment increased in 2016, while just 12% report a decrease in headcount.

Confidence soars

Measured just weeks after the 2016 U.S. presidential election, confidence levels in the global, national, and local economies is at the highest levels recorded by the MMI.

Investment plans remain unchanged

While the majority of middle market businesses say they would an invest extra dollar of revenue, the percentage continues to hover around two-thirds, inching up from 61% at the end of 2015 to 65% for Q4 2016.


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