The profession's confidence in the U.S. economy is growing somewhat, according to the February edition of Accounting Today’s monthly Accountants Confidence Index.
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Both the 3-Month and 6-Month ACI readings for February rose slightly, inching into expansionary territory for the first time in several months. The 3-Month ACI came in at 50.01, up from 48.68 and just barely above the 50 mark that indicates the dividing line between expectations of growth and expectations of contraction. The 6-Month ACI, meanwhile, hit 51.53, up into positive territory from last month's 49.91.
Most of the index's components changed very little, with the interesting exception of participants' expectations for their own firms, which fell in both the short- and mid-term.
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.