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.
Middle market businesses provide more than just a small snapshot into the larger economic market. These companies represent one-third of private sector GDP and employ approximately 48 million people.
In this state of the industry snapshot, we reveal how middle market companies are increasing or decreasing their spending across various industries.
Overall middle market spending in the fourth quarter of 2020 increased six percent compared to the fourth quarter of 2019 – the first quarter of positive growth since the onset of COVID-19. This growth was preceded by a flat third quarter 2020 when the middle market initially took a turn toward recovery.
The fourth quarter also marked the highest growth in spending levels of any quarter last year, even surpassing pre-pandemic first quarter growth in 2020.
Snapshot of middle market spending trends across five major industries.
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