ACI — December 2019: A year-end bump
After creeping up slightly last month, the Accountants Confidence Index made an even bigger rise for December.
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 54.1, more than a point up from the previous month's 52.85 (and still well above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 55.1, up around half a point from last month's 54.65.
The index components mostly rose as well, with the odd exception of respondents' expectations for the growth of their own businesses: While they expected a boost in the short-term (from 54.8 to 55.7), they were less optimistic about the midterm (58.5, down from 59.1 last month). On the other hand, they were particularly optimistic about the health of the overall economy in the short-term, presumably reflecting a bump from holiday sales.
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.