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Persistent and elevated inflation and rising interest rates challenge middle market firms; current sentiment and near-term outlooks reflect growing pessimism

The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP (“RSM”) in partnership with the U.S. Chamber of Commerce, eased to 124.2 in the fourth quarter, down 12.5 points from the previous quarter. While the index remains at a level that signals expansion and reflects the resilience of the broader economy, the decrease in topline sentiment indicates that two years of rising prices are taking a toll on overall business conditions and expectations around revenues, net earnings and hiring.“The fourth quarter MMBI reading doesn’t show that the American economy...