ACI — February 2020: A rebound
After taking a dip at the beginning of the year, the Accountants Confidence Index rebounded strongly for February.
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 55.82, well up from the previous month's 53.54 (and well above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 56.49, up just under two points from last month's 54.55.
The index components varied, with particularly strong jumps for the short- and mid-term expectations of small businesses, and more modest jumps for midsized and large clients.
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.