February 26, 2018
Main Street Monday — 63% of Main Street Bullish on Economy
By Bob Coleman
Editor, Main Street Monday
89% of mid-sized businesses and 63% of small businesses are optimistic about the U.S. economy.
Middle market executives are overwhelmingly upbeat about the global, national and local economies for the year ahead. Expressing the highest levels of optimism in the JP Morgan Chase annual survey’s eight-year history, business leaders are also bullish on their own company’s performance, with 82 percent saying they expect higher revenue and sales in 2018.
Nearly 1,700 middle market C-suite executives completed the survey in January at a time of accelerating economic activity in the US and abroad. Tax cuts and regulatory reform, combined with a strong economy, appear to be bolstering business leaders’ positive outlook. To keep up with growth expectations, more executives say they plan to hire workers and raise pay. But many are also running into a talent shortage, with 83 percent at least somewhat concerned about finding qualified employees.
“With the sense of excitement we’re hearing from businesses, it’s no surprise that executives are focused on growth,” says John Simmons, Head of Middle Market Banking & Specialized Industries, Commercial Banking.
“We are now in the second year of synchronized global economic growth. Our clients are more optimistic about the future, as reflected in improved consumer sentiment and growth in capital expenditures globally. That’s why we expect them to continue to invest overseas, both organically and opportunistically,” says Morgan McGrath, Head of International Banking, Commercial Banking.
Access the report here: