Being conducted monthly during the pandemic, the Index’s composite score moved up to 126.7 to 123.6. RSM said the data “reflects stout middle market business conditions, with nearly half of respondents reporting higher gross revenues (48%) and profits (49%)”
However, the number of executives expecting an improvement in the economy of the United States during the next two quarters dropped to 49 percent in November from 66 percent in October.
With job growth slowing in the first two months of the fourth quarter, the survey pointed to restrain on hiring and compensation by middle market firms.
While a majority are willing to increase compensation to attract and retain talent, businesses are reluctant to spent on infrastructures. Only 40 percent of the companies surveyed reporting increasing capital expenditures, or outlays on productivity-enhancing equipment, software and intellectual property, while 49 percent said that should so over the next six months.