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Economic Insights

The middle market accounts for more than a third of the U.S. employment base and GDP and, as such, is often referred to by RSM as the “real economy.”

As the influence of the middle market grows and becomes increasingly important to driving the success of business in the U.S., RSM US LLP ("RSM") continues to expand its ability to deliver related broad economic context and insight. RSM is pleased to provide real-time, middle market relevant macroeconomic perspectives to help clients anticipate and address the unique issues and challenges facing their businesses and the industries in which they operate. Our insights and analysis benefit clients and others by deepening understanding of the importance of the middle market to economic growth and stability.

Fiscal stimulus takes its turn in the spotlight

Fiscal stimulus takes its turn in the spotlight

Now that monetary policy is receding from the spotlight, it's time for fiscal stimulus to take its place on stage.

  • Joe Brusuelas
  • |
  • December 08, 2016
November jobs report gives Fed ammunition for December rate hike

November jobs report gives Fed ammunition for December rate hike

A robust November nonfarm payrolls jobs report will give the Fed plenty of ammunition to raise interest rates 25 basis points in December.

  • Joe Brusuelas
  • |
  • December 02, 2016
Here's what a Trump presidency means for the economy

Here's what a Trump presidency means for the economy

A Trump presidency has implications for economic growth, taxes and infrastructure, central bank policy, interest rates and trade.

  • Joe Brusuelas
  • |
  • November 09, 2016
Why the Trans Pacific Partnership matters

Why the Trans Pacific Partnership matters

Read the third global edition of RSM's The Real Economy, our monthly publication that provides economic insights for the middle market.

  • Joe Brusuelas
  • |
  • November 03, 2016
Holiday retail spending to show online surge

Holiday retail spending to show online surge

Holiday retail sales will likely show a solid 3.4 percent overall gain this year

  • Joe Brusuelas
  • |
  • October 12, 2016
Holiday retail sales outlook

Holiday retail sales outlook

Retail sales will likely show a solid 3.4 percent increase

  • Joe Brusuelas
  • |
  • October 06, 2016
RSM US Middle Market Business Index points to increasing risk

RSM US Middle Market Business Index points to increasing risk

The MMBI is a leading indicator for business conditions in the middle market and the real economy.

  • September 12, 2016
Tighter labor market contributing to stronger wage growth

Tighter labor market contributing to stronger wage growth

In this video brief I discuss how a tighter labor market is contributing to stronger-than-anticipated wage growth.

  • Joe Brusuelas
  • |
  • August 15, 2016
US financial conditions solid even amid Brexit risks

US financial conditions solid even amid Brexit risks

Financial conditions in the US are broadly supportive of economic growth even after the vote by the UK to exit the European Union.

  • Joe Brusuelas
  • |
  • July 07, 2016

Brexit presents risks, opportunities for middle market

Analysis from Joe Brusuelas, chief economist of RSM US LLP, about what this means for the middle market will be posted shortly.

  • June 24, 2016
Labor policy changes pose distinct risks for middle market

Labor policy changes pose distinct risks for middle market

Middle market firms will disproportionately shoulder the burden of adjusting the minimum wage to $15 per hour.

  • Joe Brusuelas
  • |
  • June 12, 2016
RSM US Middle Market Business Index jumps in second quarter

RSM US Middle Market Business Index jumps in second quarter

The MMBI is a leading indicator for business conditions in the middle market and the real economy.

  • June 03, 2016

Puny jobs report likely overstates hiring slowdown

May’s hiring estimate likely overstated the slowing pace of employment growth in the labor market.

  • Joe Brusuelas
  • |
  • June 03, 2016
RSM US Middle Market Leadership Council survey report

RSM US Middle Market Leadership Council survey report

The RSM US Middle Market Leadership Council survey shows a growing middle market that’s optimistic about the future.

  • May 09, 2016
Policy uncertainty rising as middle market grapples with election choices

Policy uncertainty rising as middle market grapples with election choices

The Baker, Bloom and Davis policy uncertainty index shows growing unease as the presidential election cycle kicks into full gear.

  • Joe Brusuelas
  • |
  • May 04, 2016
Infrastructure spending would boost Boston's real economy

Infrastructure spending would boost Boston's real economy

The state of Massachusetts will need an additional $15 billion to $19 billion to maintain its transportation system over the next 20 years.

  • Joe Brusuelas
  • |
  • March 04, 2016
What the stock market decline means for the middle market

What the stock market decline means for the middle market

While equity losses year-to-date are large, at this point they don’t represent a financial and economic risk to the middle market.

  • Joe Brusuelas
  • |
  • January 18, 2016
Inflation creep looms over economic growth, policy decisions

Inflation creep looms over economic growth, policy decisions

While inflation poses little risk to the economic outlook, a look under the hood at core data shows the risk to operating costs for the middle market.

  • Joe Brusuelas
  • |
  • January 14, 2016
2016 Economic Outlook: Households, residential investment to drive growth

2016 Economic Outlook: Households, residential investment to drive growth

U.S. growth in 2016 will likely remain well above the long-term trend of 1.5 percent, driven by household spending and residential investment.

  • Joe Brusuelas
  • |
  • December 09, 2015
Blowout jobs report points to December rate hike

Blowout jobs report points to December rate hike

November's 271,000 new jobs gives the Fed the green light to raise rates.

  • Joe Brusuelas
  • |
  • November 06, 2015
The effects of U.S. policy normalization on global central banks

The effects of U.S. policy normalization on global central banks

Read our first semi-annual global edition of The Real Economy.

  • Joe Brusuelas, Brendan Quirk, Anand  Selvarjan
  • |
  • October 26, 2015
The economic case for rebuilding America's aging infrastructure

The economic case for rebuilding America's aging infrastructure

Why a long-term infrastructure spending project makes economic case.

  • Joe Brusuelas
  • |
  • October 09, 2015
Will they or won't they? Fed September rate decision looms

Will they or won't they? Fed September rate decision looms

The case for a September rate increase remains strong, even with recent market volatility.

  • Joe Brusuelas
  • |
  • September 09, 2015
August jobs report gives Fed green light for rate hike

August jobs report gives Fed green light for rate hike

With the economy nearing full employment, the Fed is ready to take the next step in policy normalization.

  • Joe Brusuelas
  • |
  • September 04, 2015
July jobs report gives Fed green light to raise rates

July jobs report gives Fed green light to raise rates

The breadth and depth of job creation should allow the Fed to begin policy normalization.

  • Joe Brusuelas
  • |
  • August 07, 2015
Energy outlook: The economic case for U.S. oil exports

Energy outlook: The economic case for U.S. oil exports

Middle market firms with links to oil, transportation and construction will disproportionately benefit if the U.S. exports domestically produced oil.

  • Joe Brusuelas
  • |
  • August 06, 2015
Consumers ready to drive economic growth in second half

Consumers ready to drive economic growth in second half

After a disappointing start, the U.S. economy is poised for much better performance in the second half of the year.

  • Joe Brusuelas
  • |
  • July 08, 2015
Few fireworks in June jobs report

Few fireworks in June jobs report

June jobs report should have little bearing on Fed's timeline for policy normalization.

  • Joe Brusuelas
  • |
  • July 02, 2015
Carbon tax: A primer for the middle market

Carbon tax: A primer for the middle market

Middle market firms should be aware of the implications of a carbon tax.

  • Joe Brusuelas
  • |
  • April 16, 2015
Value-added tax: A primer for the middle market

Value-added tax: A primer for the middle market

Why a VAT would be no panacea for long-term fiscal challenges.

  • Joe Brusuelas
  • |
  • April 16, 2015

Focus on Success videos address best practices and economic issues

Several new videos in our series touch on opportunities for manufacturers and distributors.

  • April 09, 2015
March jobs report disappoints

March jobs report disappoints

Winter weather took a toll on new hiring.

  • Joe Brusuelas
  • |
  • April 03, 2015
Five key takeaways from another strong month of job gains

Five key takeaways from another strong month of job gains

Five key takeaways from February's jobs report.

  • Joe Brusuelas
  • |
  • March 06, 2015
Strong January jobs report takes aim at Fed patience

Strong January jobs report takes aim at Fed patience

A strong January jobs report may test the Fed's patience for holding interest rates near zero percent.

  • Joe Brusuelas
  • |
  • February 06, 2015
Labor market momentum continues

Labor market momentum continues

High-wage job gains continue to outpace low-wage jobs.

  • Joe Brusuelas
  • |
  • January 09, 2015
Strong job gains likely to continue after smaller december increase

Strong job gains likely to continue after smaller december increase

December payroll growth is often slowed by seasonal effects.

  • Joe Brusuelas
  • |
  • January 02, 2015
Currency volatility may bring unwelcome surprise for some firms

Currency volatility may bring unwelcome surprise for some firms

As global monetary policy divergences accelerate, now may be the time to consider currency hedges.

  • Joe Brusuelas, Faye Miller, Monique Cole
  • |
  • December 11, 2014
Tightening labor market points to rising wages in 2015

Tightening labor market points to rising wages in 2015

Employment data bodes well for not only the financial economy but the real economy.

  • Joe Brusuelas
  • |
  • December 05, 2014
October jobs report bodes well for middle market firms

October jobs report bodes well for middle market firms

Small and middle-sized firms the primary catalysts behind improved hiring.

  • Joe Brusuelas
  • |
  • November 07, 2014
European economic focus: Time running out for ECB

European economic focus: Time running out for ECB

With deflation at its doorstep, the time for deferring hard decisions at the ECB is over.

  • Joe Brusuelas
  • |
  • November 03, 2014
Five themes for middle market firms to watch in 2015

Five themes for middle market firms to watch in 2015

RSM US Chief Economist Joe Brusuelas presents five key economic themes that will affect middle market firms in 2015.

  • Joe Brusuelas
  • |
  • October 23, 2014
Lower gas prices to boost discretionary incomes ahead of holiday shopping season

Lower gas prices to boost discretionary incomes ahead of holiday shopping season

Falling gas prices will give consumers a holiday shopping boost and benefit middle market companies in retail, fashion and home furnishings.

  • Joe Brusuelas
  • |
  • October 15, 2014
Middle market takes hiring baton, boosts job creation

Middle market takes hiring baton, boosts job creation

The real economy continued to gain traction in September as the jobless rate fell below 6 percent for the first time since 2008.

  • Joe Brusuelas
  • |
  • October 03, 2014
Private sector hiring takes late summer break

Private sector hiring takes late summer break

Private sector hiring appears to have gone on holiday as the monthly guesstimate at the BLS showed a slowdown in overall job creation.

  • Joe Brusuelas
  • |
  • September 05, 2014
RSM US Middle Market Business Index

RSM US Middle Market Business Index

RSM US Middle Market Business Index provides never-before-seen view into the future of the real economy.

RSM US Middle Market Business Index

RSM US Middle Market Business Index

RSM US Middle Market Business Index provides never-before-seen view into the future of the real economy.

The Real Economy: Investing in real estate

The Real Economy: Investing in real estate

Demographics and changing preferences could spell a different residential and commercial real estate recovery than past cycles.

  • Joe Brusuelas
The Real Economy: Investing in office transformation

The Real Economy: Investing in office transformation

Demographics and the changing nature of work have already led to a transformation in real estate investment in the office sector.

  • Joe Brusuelas

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