The Accountants Confidence Index took a dip in the run-up to the election, but the decline masked some significant upward spikes in certain components.
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 49.43, down from the previous month's 51.09 -- and just below the 50-mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 53.86, down somehwat from last month's 54.42.
The index components' movements were scattered, with big drops in panelists' expectations for their large and midsized business clients, but increases in their expectations for growth at their small clients, and at their own firms.
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.