RSM US Middle Market Business Index

Q1 middle market sentiment reaches highest level since last October

Latest monthly update: March (04.08.21)

To better track the impact of COVID-19 on middle market business sentiment, RSM is measuring and reporting the MMBI monthly during the pandemic.

Latest quarterly report: Q1 2021

Despite the challenges posed by the most intense phase of the pandemic, sentiment among middle market business executives rose, according to the proprietary Q1 2021 RSM US Middle Market Business Index. The index improved to 124 in January, up from 121 in December. It is the highest reading since October, though it is still below its pre-pandemic level.

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Past Issues

MARCH (04.13.20)      APRIL (05.11.20)      MAY (06.16.20)      JUNE (07.17.20)      JULY (08.10.20)      AUGUST (09.11.20)      SEPTEMBER (10.13.20) 

OCTOBER (11.10.20)      NOVEMBER (12.14.20)    DECEMBER (01.11.21)    January (02.19.21)    FEBRUARY (03.08.21) 

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About the RSM US Middle Market Business Index

RSM US LLP and The Harris Poll collect business outlook data from middle market firms via quarterly surveys of the Middle Market Leadership Council survey panel. The panel consists of 700 middle market executives and is designed to accurately reflect conditions in the middle market. A reading above 100 for the RSM US Middle Market Business Index (MMBI) indicates that the middle market is generally expanding; below 100 indicates that it is generally contracting. The distance from 100 is indicative of the strength of the expansion or contraction. The MMBI was created in 2015 and is the original business index focused on the U.S. middle market.  

RSM US LLP and The Harris Poll have collected data on middle market firms from quarterly surveys that began in the first quarter of 2015. The survey is conducted four times a year, in the first month of each quarter: January, April, July and October. The survey panel, the Middle Market Leadership Council, consists of 700 middle market executives, and is designed to accurately reflect conditions in the middle market.

The data for each quarter are weighted to ensure that they correspond to the U.S. Census Bureau data on the basis of industry representation. A reading above 100 for the MMBI indicates that the middle market is generally expanding; below 100 indicates that it is generally contracting. The distance from 100 is indicative of the strength of the expansion or contraction. Read more about how the index is constructed.