Confidence and revenue were high among middle market executives, but growth was down from the previous quarter
Nearly 80% of middle market companies reported that their revenue has increased over the past year, the highest percentage ever, according to the 4Q 2018 Middle Market Indicator by the National Center for the Middle Market.
Even so, the rate of growth is down quarter to quarter, from 8.6% in the third quarter to 7.9% in the fourth quarter. This decline is driven by upper middle market companies in sectors such as services and finance.
“The retail trade and construction industries report notable increases in the rate of revenue growth this quarter, and manufacturing continues to report strong growth,” the report authors write. “Despite the overall drop, revenue growth is higher than one year ago and remains a full point above the MMI average revenue growth rate of 6.9%.”