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RSM US LLP (RSM) – the nation’s leading provider of audit, tax and consulting services focused on the middle market – today announced results of the May reading for its RSM US Middle Market Business Index (MMBI). Typically a quarterly index, the firm is releasing monthly installments of the MMBI for the duration of the COVID-19 pandemic. Today’s data revealed the MMBI composite score jumped to 106.1 in May after reaching an historic low of 87.8 in April, indicating the tentative beginning of the long road to recovery in the U.S. economy.
The uptick, likely driven by the initial reopening of the economy in many states, denotes a slower pace of contraction and highlights that middle market leaders expect a quick return to modest growth this year. Of the middle market executives surveyed, 53% expect the economy to improve over the next six months. Additionally, 50% anticipate an improvement in gross revenues and 49% expect to see net earnings increase. These forward-looking expectations show significant improvement from the current monthly reading, where only 28% of respondents expect an improvement in gross revenues and 29% in net earnings.
RSM’s purpose is to deliver the power of being understood to our clients, colleagues and communities through world-class audit, tax and consulting services focused on middle market businesses. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business environment.
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RSM US LLP is a limited liability partnership and the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms. The member firms of RSM International collaborate to provide services to global clients, but are separate and distinct legal entities that cannot obligate each other. Each member firm is responsible only for its own acts and omissions, and not those of any other party. Visit rsmus.com/about for more information regarding RSM US LLP and RSM International.
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