The short-term and mid-term ACI readings headed in different directions this month, though both remain positive.
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 rose above the 50 mark that separates 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.
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.