Our Accountants Confidence Index remained positive but uncertain, with a slight boost in the short-term expectations of growth, but a slight decrease in the mid-term expectations.
The ACI, created 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 and 6-Month ACI readings for this month were both on the positive side of 50, which is the divider between growth and contraction. The 3-Month ACI 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.
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.