ACI — September 2019: A deeper drop
After two months of slight drops, the Accountants Confidence took a much deeper drop for September, as concerns about the near- and midterm state of the economy took hold.
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 52.04, a full two points off from the previous month's 54.03 (though still above the 50 mark that separates expectations of growth from expectations of contraction). The 6-Month ACI, meanwhile, came in at 52.943, almost three full points off from last month's 55.82.
Most of the index components dropped significantly as well. Expectations for the overall U.S. economy dropped into contractionary territory for the first time in several months, while respondents' expectations for the mid-term growth of their own firms dipped below 60 for the first time since 2017.
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.