After rising in November, the short-term and mid-term ACI readings both continued their upward trend in December, with the short-term and the long-term readings both both comfortably in positive territory.
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 52.3, up significantly from 50.19 last month, and above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, hit 55.14, well up from 53.53.
The index components were mostly up, with the major exception being a drop in the short-term expectations for large companies.
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.