After a sharp drop last month, our Accountants Confidence Index made up the ground it lost this month, returning to expectations of growth in both the short- and the mid-term.
The ACI, created 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 and 6-Month ACI readings for this month were both on the positive side of 50, which is the divider between growth and contraction. The 3-Month ACI came in at 50.35, up from 49.14, while the 6-Month ACI hit 53.00, up from 51.47.
Most of the index components were up somewhat, with the biggest jumps in the predictions for their large business clients, which were up three points in both the short- and the mid-term.
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.