The short-term and mid-term ACI readings got back into sync in August, with both heading upward after diverging in July.

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 51.13, up from 50.93 last month, while the 6-Month ACI hit 53.95, up from 53.44.

The index components were more mixed, with forecasts for large businesses rising, those for the economy as a whole dropping, and respondents' expectations for their own firms down in the short-term but up in 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.