The accounting profession stayed confident about the direction of the economy this month, according to the July edition of Accounting Today’s monthly Accountants Confidence Index.
After two months of declines, the 3-Month and the 6-Month ACI rose slightly in June, and then rose slightly again for July -- with both showing results above the dividing line between growth and contraction.
The 3-Month ACI came in at 50.41, up from 50.32 -- and just above the 50 mark that indicates the dividing line between expectations of growth and expectations of contraction. The 6-Month ACI, meanwhile, hit 52.57, up from last month's 52.33.
Most of the index's components were rose slightly, but with no significant jumps. There was only one minor decline, in the respondents’ predictions for short-term growth for their large business clients.
More details are available in this month’s
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.
