After recording some of its biggest gains since its inception, the Accountants Confidence Index dipped a bit, but remained optimistic.
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 57.74, down a bit from the previous month's 59.66, still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 59.74, from last month's 61.65.
The index components all registered modest declines, though most remain above the level of a few months back, before excitement about the Tax Cuts and Jobs Act pushed them to record highs.
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.