After rebounding sharply in June from months of decline, the Accountants Confidence Index split into two directions this month, with the short-term and mid-term readings heading apart, though both remain positive.
The ACI, published by Accounting Today 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 rose above the 50 mark that separates expectations of growth from contraction, coming in at 50.93, down a little from 51.39 last month, while the 6-Month ACI hit 53.44, up slightly from 53.39.
The index components split as well, with all the short-term measures dipping, and most of the mid-term measures rising. The main exception in the mid-term was in the prediction for mid-term growth at large companies, which dropped by two points.
More details are available in this month’s interactive online report.
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.