Accountants Confidence Index — January 2019
The Accountants Confidence Index dropped for the second month in a row, with accountants significantly lowering their mid-term growth expectations for the overall economy.
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 54.42, down just over a point from the previous month's 55.5, though still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 56.7, down two points from last month's 58.77.
Uncertainty over the government shutdown, trade policy, the stock market and the whether tax reform will end up being good or bad for the economy weighed on all of the index components, with respondents' faith in the growth prospects for the U.S. economy dropping by five full points in the mid-term, just barely remaining in expansionary territory.
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.