After starting the year with a wobble, the accounting profession's expectations for economic growth remained uncertain, with a slight boost in the short-term expectations of growth, but a slight decrease in the mid-term expectations, according to the February edition of 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 is the dividing line between expectations of growth and expectations of contraction. Starting in October, however, both ACIs recovered, only to dip slightly in December and January though they remained above 50.
The 3-Month ACI for February came in at 50.55, up from 50.52, while the 6-Month ACI hit 52.03, down from 52.50.
There were few major moves among the index components; among them were jumps of around two points for both the short- and the mid-term expectations for large businesses -- though they were still contractionary for the immediate future.
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.