December 2020 Middle Market Monitor

Economic indicators were mixed in November as the U.S. advances along its recovery from the impact of COVID-19 with a vaccine in sight. The unemployment rate and the Consumer Confidence Index both declined over the month while the Consumer Price Index increased slightly. The public markets saw a significant gain with the S&P 500 posting a gain of 10.8%. M&A activity declined, including cross-border transactions and leveraged buyouts.