The accounting profession’s expectations for economic growth dropped somewhat this month, according to the September edition of Accounting Today’s monthly Accountants Confidence Index.
After rising for June, July and August, the 3-Month and the 6-Month ACI sank sharply for September, with the short-term measure actually dropping below the dividing line between growth and contraction.
The 3-Month ACI came in at 49.14, down from 50.96 – just below the 50 mark that indicates the dividing line between expectations of growth and expectations of contraction. The 6-Month ACI, meanwhile, hit 51.47, down almost two points from last month's 53.25.
Most of the index's components dropped slightly, with the biggest drop in the mid-term prediction for our panelists' large-business clients -- more than three points. Expectations for the short-term for small-business clients were also off significantly.
More details are available in this month’s interactive online report.
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.