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US Middle Market caps strong first half of growth in 2016

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US Middle Market caps strong first half of growth in 2016

Employment growth couples with revenue gains to signal strong performance.

US middle market companies recorded 7.2% average revenue growth in the second quarter of 2016, building upon already strong growth figures from Q1, according to the National Center for the Middle Market.

"Middle market growth accelerated in the first half of 2016 compared to last year—a robust demonstration of continued gains even after seven full years of expansion" said NCMM Executive Director Thomas A. Stewart. "This quarter, we observed great improvement across the board, with all but one industry group reporting performance gains from the quarter before."

Middle Market Keeps Growing and Growing  
The middle market continued to post strong growth rates, with average revenues rising 7.2% in the past year. This outpaces Q1 2016's average growth rate of 6.3%, as well as the historical average growth of 6.4% since 2012. Large middle market companies – those with $100 million to $1 billion in annual revenues – posted even stronger gains, with an average revenue growth of 8.5% in the last twelve months.

Average workforce growth was at 4.4%, up substantially from 3.6% the previous quarter. Thirty-nine percent of firms increased the size of their workforce over the last 12 months.

"The middle market's net new job growth is consistently one-and-a-half to two times greater than that of big business or small business,” said Stewart. "It's not surprising that recruiting talent consistently ranks among executive's top challenges—they need a lot of it."

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