While still predicting contraction in both the short- and the mid-term, the January edition of Accounting Today’s monthly Accountants Confidence Index rose somewhat from the previous month’s reading.
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Both the 3-Month and 6-Month ACI readings for January rose slightly, though both still remained below 50, which indicates an expectation of contraction. The 3-Month ACI came in at 48.68, up from 47.53, while the 6-Month ACI hit 49.91, up a hair 49.86.
Most of the index's components changed very little, with only the short-term expectations for large businesses rising significantly -- perhaps in hopes of strong holiday sales.
Created in partnership with ADP, the ACI is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S.