After February's retrenchment, the short-term and mid-term ACIs continued that moderation in March, dropping slighly -- though they remained comfortably in positive territory.
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 51.1, down from last month's 51.7. The 6-Month ACI, meanwhile, dropped very slightly to 54.07, from last month's 54.22. Both figures, though, were above the 50 mark that separates expectations of growth from expectations of contraction.
The index components were generally down, perhaps reflecting, in part, harsh winter weather in various parts of the country.
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.