ACI — July 2019: Uncertainty abounds
After a strong rise in the previous month, a combination of uncertainty for some, and certainty that a slowdown was on the horizon for others, led to a slight dip in the Accountants Confidence Index in both the short- and the midterm.
A sizable percentage of the respondents, however, were still comfortable with the direction of the economy, particularly locally.
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 54.89, down somewhat from the previous month's 55.47, though well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 56.61, down a point from last month's 57.62.
Among the index components, most were down very slightly, with the biggest drop among respondents' midterm expectations for the economy as a whole, which were down two full points.
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.