The profession's confidence in the U.S. economy is growing even more strongly than before, according to the March edition of Accounting Today’s monthly Accountants Confidence Index.
After both breaching positive territory the month before, both the 3-Month and 6-Month ACI readings for March rose even further into expansionary territory. The 3-Month ACI came in at 52.39, up from 50.01 -- and comfortably above the 50 mark that indicates the dividing line between expectations of growth and expectations of contraction. The 6-Month ACI, meanwhile, hit 53.47, up from last month's 51.53.
Most of the index's components continued to rise, and all were in positive territory (above 50) –- with the sole exception of the panelists’ growth expectations for the U.S. economy as a whole.
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.