Want good economic news? Look to the American middle market.
“Middle-market companies are in this sweet spot where there is an awful lot of growth and confidence,” Thomas A. Stewart, executive director of the National Center for the Middle Market (NCMM), told The Wall Street Journal last week.
Rarely given the attention they deserve, midsize companies – with annual sales between $10 million and $1 billion – are substantial drivers of job growth, employing one-third of the U.S. workforce. And according to Stewart, their bottom lines are healthier than ever.
Impressive data from the latest NCMM survey of 1,000 companies proves it:
- Year-on-year, top-line growth of 9.2 percent
- Employment growth of 7.5 percent
- Merger and acquisition activity up by a third from the previous 12 months
“This is the first time we’ve seen confidence in the national economy higher than confidence in the local economy,” added Stewart. Overall, the numbers paint a positive future for the middle market.