After several months of decline, accountants’ confidence in the prospects for economic growth saw a sharp uptick, according to the June edition of Accounting Today’s Accountants Confidence Index.
The 3-Month ACI for June came in at 51.39, up from 49.06, while the 6-Month ACI registered at 53.39, up significantly from 50.96. A reading below 50 indicates an expectation of contraction; our respondents’ short-term forecasts had been negative in both April and May, and both ACIs have been dropping month by month since late in 2013.
All of the index components rose, with particularly strong jumps in respondents’ predictions for the growth prospects of their large business clients. 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.