See where middle market companies are increasing or decreasing their spending in this state of the industry snapshot from data captured through the AvidPay Network.
How businesses are spending their money has been a focal point this year as industries feel the pandemic’s impact and look to bolster their cash flow. As the largest contingent of businesses in the U.S., the middle market, in particular, presents interesting insights on the broader economy.
In this state of the industry snapshot, we reveal how middle market companies are increasing or decreasing their spending across five major industries: technology, finance and insurance, construction, transportation and warehousing, and accommodation and food service.
The overall spending by middle market companies has steadily increased since 2018. However, due to the pandemic, there was a dip of 4% in Q2 of this year compared to the same quarter last year.
Our data reveals that spending rebounded in Q3 to a flat percentage year-over-year, potentially indicating that middle market companies are moving toward business as usual and beginning to spend again in areas that they previously paused at the onset of COVID-19.
Snapshot of middle market spending trends across five major industries.
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