After a slight decline in February, the Accountants Confidence Index took another big jump in March.

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 52.79, up more than a point from the previous month's 51.14. The 6-Month ACI, meanwhile, came in at 56.79, up more than two points from last month's 54.42.

The index components were mostly up, particularly in the mid-term, continuing to reflect their hopes around the effect the new administration's policies will have. (See "Accountants confident Trump will grow economy.") Interestingly, though, respondents actually lowered their short-term expectations for their own firms.

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.