After a steep drop last month, the Accountants Confidence Index levelled off this month, with both the short-term and mid-term measurements drooping slightly.
The ACI, published 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 came in at 50.63, just barely up from the previous month's 50.61. The 6-Month ACI, meanwhile, came in at 53.45, down slightly from last month's 53.68.
Most of the index components held steady; the only major move was in the respondents' expectations for their large clients, which were up around a point in the short-term, but down by almost the same amount in the mid-term.
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.