The Accountants Confidence Index continued its slow downward slide this month.
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 48.80, down somehwat from the previous month's 49.42, and even further below the 50-mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 51.83, down slightly from last month's 52.73.
All but one of the index components declinded mostly this month; the exception was in respondents' expectations for mid-term growth at large-business clients, which edged up slightly.
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.