The Real Economy Livestream series

Midyear update on the middle market economy

Next episode May 30, 2024

Join RSM US Chief Economist Joe Brusuelas and U.S. Chamber of Commerce Executive Vice President Neil Bradley as they discuss the economic outlook and what middle market companies should anticipate in the coming months.


Midyear update on the middle market economy


Thursday, May 30, 2024 | 1 p.m. ET

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Catch up on the last episode | April 2024

The resilient American economy

The American economy this year has been a story of strength and resilience that would have been hard to imagine a year ago. Easing inflation, a robust labor market and surging productivity are all fueling growth that is expected to continue throughout the year.

In a recent wide-ranging conversation about the state of the economy and the middle market, Joe Brusuelas, chief economist at RSM US, and Neil Bradley, executive vice president of the U.S. Chamber of Commerce, touched on these themes and offered insight over what is driving this growth. One reason, Brusuelas said, is that the investments in productivity made during the pandemic are now starting to pay off.

“There is a lot that is right in the U.S. economy right now,” said Brusuelas, who said he sees the Federal Reserve cutting interest three times this year, starting in June.

Bradley echoed the optimism, and pointed out that there is a disconnect between what is being reported about the state of the economy and what businesses are experiencing. The correct story, Bradley said, is one of strength.

There are risks, they noted. Rising oil prices, geopolitical tensions and volatility surrounding elections could dampen the growth. But until then, the economy will remain robust.

Any advice for businesses? Brusuelas urged firms to continue to make productivity-enhancing investments, and Bradley offered an exhortation: “Charge ahead and don’t act out of fear.”

Q1 2024 Middle Market Business Index (MMBI)

RSM US Middle Market Business Index shows a sustained expansion

Key findings:

  • The MMBI eased slightly to 130.8 from 132.3 at the close of last year.
  • Nearly two-thirds of executives said they expect an improvement in economic conditions over the next six months.
  • Sixty-seven percent said they anticipate an improvement in both net earnings and revenues later this year.

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The Real Economy Blog

The Real Economy Blog was developed to provide timely economic insights about the middle market economy. It is offered as a complement to RSM’s macroeconomic thought leadership, including The Real Economy monthly publication and the proprietary RSM US Middle Market Business Index (MMBI).

The voice of the middle market

Middle market organizations, which make up the “real economy,” are too big to be small and too small to be big. They have distinct challenges and opportunities around resources, labor, technology, innovation, regulation and more.