Accountants Confidence Index — November 2018
The Accountants Confidence Index continued to climb after a relatively steep drop for September, more than recovering most of its loss.
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 56.05, up slightly from the previous month's 55.5, and still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 59.51, up a full point from last month's 58.51.
The index components rose more strongly for the next six months than for the next three, with many respondents expecting the coming holiday season to give the economy a boost, while others disagreed over the ongoing impact of the Tax Cuts and Jobs Act, the administration's trade policies, and the likely affect of the midterm elections.
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.