ACI — January 2020: A soft start
After getting a bump at the end of 2019, the Accountants Confidence Index took a dip for the start of 2020.
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 53.54, off by just over half a point from the previous month's 54.1 (though still well above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 54.55, also off by about half a point from last month's 55.1.
The index components most saw minor declines, though respondents were significantly less optimistic about the growth prospects of their small-business clients, with their expectations dropping more than two points in the short term, and almost three points in the mid-term.
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.