The Accountants Confidence Index dropped again this month, dampened by concerns about the effect of the government shutdown, with many respondents predicting an economic slowdown of some sort in 2019.
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 54.01, down slightly from the previous month's 54.42, though still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 55.85, down almost a point from last month's 56.7.
The index components were mixed; Expectations for large-client growth rose in the long-term, but those for the overall economy dropped.
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.