The accounting profession's expectations for economic growth headed downward again, with drops in both their short-term and mid-term forecasts, according to the March 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 is the dividing line between expectations of growth and expectations of contraction. Starting in October, however, both ACIs recovered, only to dip slightly in December and January, and show mixed results in February.

For March, the 3-Month ACI came in at 50.04, down from 50.55, while the 6-Month ACI hit 51.64, down from 52.03.

Most of the index components dropped somewhat, with many solidly in contractionary territory. 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.