The accounting profession's expectations for economic growth remained positive for the third month in a row, according to the December edition of the Accounting Today’s monthly Accountants Confidence Index.
The 3-Month and the 6-Month ACI had risen somewhat over the summer months before sinking sharply for September, with the short-term figure dipping below the 50 mark that the dividing line between expectations of growth and expectations of contraction. Starting in October, however, both ACIs recovered.
The 3-Month ACI came in at 51.39, up from 50.67, while the 6-Month ACI hit 53.60, up from 53.41.
Most of the index components rose slightly. Among the few outliers were the panelists’ projections for the growth of their own firms, which were down by more than two points in both the short- and the mid-term perhaps in reaction to concerns about the delayed start to tax season.
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.