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CIT Survey Examines the Middle Market's Outlook on the Economy

BY Adam J. Schlagman
March 31, 2009

“So, how long do you think this will last?” That's what everyone wants to know. The answer, of course, is anyone's guess; but in the opinion of four out of five middle-market executives, the financial crisis will bottom out in 2009. This is according to a research report, “U.S. Middle Market Outlook 2009: Navigating the Credit Crunch,” the first in a series of four in-depth studies on the middle market sponsored by CIT Group and produced by Forbes Insights, the research practice of Forbes Media.

The study, based on the responses of 150 senior-level financial decision makers at U.S. middle-market companies (those with annual revenues between $25 million and $1 billion), highlights how these executives are managing the current economic crisis and also reveals their outlook for 2009. The executives, surveyed in December 2008 and January 2009, had functional responsibility for finance, strategy and business development, or general management. The research spanned numerous industries including, among others, energy, health care, IT, real estate, retail, manufacturing, and consumer goods.

The results of this year's survey are in stark contrast to a similar examination of the middle market sponsored by CIT in mid-2007. During that period of positive economic strength, executives had greater expectations for revenue growth and were taking more aggressive steps to invest in the talent and infrastructure necessary to support future expansion.

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