After dropping in September, the accounting profession’s expectations for economic growth rebounded this month, according to the October edition of Accounting Today’s monthly Accountants Confidence Index.
The 3-Month and the 6-Month ACI had risen somewhat over the summer months before sinking sharply for September, with the short-term figure dipping below the 50 mark that the dividing line between expectations of growth and expectations of contraction. This month, however, both figures rose above 50.
The 3-Month ACI came in at 50.35, up from 49.14, and just above the 50 mark. The 6-Month ACI, meanwhile, hit 53, up a point and a half from last month's 51.47, and making up most of the ground it had lost after August.
Most of the index's components rose slightly, with expectations for growth at large business clients leading the way, climbing three points in both the short- and the mid-term.
More details are available in this month’s interactive online report.
Created in partnership with ADP, the ACI is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S.
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