After two months of rises, the Accountants Confidence Index took a dip this month.

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 50.91, down almost a point from the previous month's 51.80 -- though still solidly above the 50-mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 54.23, off from last month's 55.01.

The index components mostly saw modest declines; the standout was in the panelists' expectations for their large-business clients, which dropped by almost two points in the short 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.