September 2020 Middle Market Monitor

Economic indicators continued to show signs of recovery as lockdowns are lifted across the country. Unemployment continued its steady decline and the Consumer Price Index rose. However, the Consumer Confidence Index declined. The public equity markets continued to grow with the S&P 500, Dow Jones Industrial Average, and NASDAQ all rising and peaking at the end of the month. M&A activity also remained stable, while still below pre-COVID levels.