Our Accountants Confidence Index remained split between growth and contraction, after the short-term outlook dipped into the negative last month.
The ACI, created in partnership with ADP, is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S. The 6-Month ACI reading for this month hovered just above 50, which is the divider between growth and contraction, but the 3-Month ACI reading stayed in negative territory, which it hit in April. The 3-Month ACI came in at 49.06, down from 49.92, while the 6-Month ACI hit 50.96, down from 51.30.
The index components largely declined, with a particularly large drop in the respondents' expectations for their own firms' growth (some of which may be attributable to a natural post-tax-season decline in revenue). Interestingly, their forecasts for the country as a whole, usually the worst performing of all the components, actually rose slightly.
The ACI is created from a monthly poll of the Accounting Today Executive Research Council, an online community of more than 1,500 tax and accounting professionals.
May Accountants Confidence Index
All responses from an April 2014 survey of the Accounting Today Executive Research Council, an online panel of over 1,500 accounting professionals. The ERC and the ACI were created in partnership with ADP.