The Accountants Confidence Index continued to rise again this month, in both the mid-term and the short-term, perhaps reflecting the respondents' move from the summer doldrums to the busier fall season.
The ACI, published 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 3-Month ACI came in at 51.9, up moderately from the previous month's 51.57. The 6-Month ACI, meanwhile, came in at 55.46, up strongly from last month's 54.32.
While most of the index components rose, the major outlier was in the panelists' expectations for their large-business clients, which dropped significantly in the short term.
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.