Accountants' Confidence in the Economy Splits

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.

For reprint and licensing requests for this article, click here.
Audit Financial reporting
MORE FROM ACCOUNTING TODAY