RSM and U.S. Chamber of Commerce survey indicates continued optimistic outlook and solid business conditions.
The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP in partnership with the U.S. Chamber of Commerce, eased slightly to 130.8 in the first quarter from 132.3 at the close of last year on a seasonally adjusted basis. The MMBI survey results reflect a self-sustaining economy and robust labor market supported by middle market firms that continue to reinvest earnings into productivity-enhancing expenditures.
"The primary takeaway from this quarter's survey is that middle market executives are bullish on the year even as economic growth moderates from the blistering 3.1% pace of last year," said Joe Brusuelas, chief economist with RSM US LLP. "It is not surprising that a three-year period of solid investment in firms' ability to produce has resulted in an average increase of 3.9% in American productivity over the past three quarters. While such robust gains in productivity are unsustainable, anything at or above 2.5% bodes well for an economy that can grow at a faster pace, retain a low unemployment rate and obtain price stability, all while bolstering living standards for all."
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