The short-term and mid-term ACI readings both levelled off in October, with the short-term reading still indicating expectations of contraction.
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 48.74, down very slightliy from 48.75 last month, while the 6-Month ACI hit 52.04, up very slightly from 52.01.
The index components were, as you might expect, mixed.
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.