ACI — October 2019: Stopping the slide
After three months of declines, the Accountants Confidence reversed course.
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 52.49, up almost half a point from the previous month's 52.04 (though it was always above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 54.5, more tha a point and a half better than last month's 52.94.
The index components trended higher, though the uptick was higher in the mid-term than the short-term.
This month, the respondents also shared their thoughts and concerns around employee retention.
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.