After a slight rise after the end of tax season, the Accountants Confidence Index dropped slightly again, as respondents disagreed over the direction of the economy and the potential impact of tax reform.
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 55.61, down just over a point from the previous month's 56.67, though still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 58.84, off from last month's 59.96.
The biggest declines among the index components were in the respondents' expectations for growth at their own firms, which were down approximately three points in both the short- and the mid-term, and for growth at their large business clients.
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.