Our Accountants Confidence Index continued its positive trend for the third month in a row, with 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 51.39, up from 50.67, while the 6-Month ACI hit 53.60, up from 53.41.

Most of the index components rose slightly -- though the panelists downgraded the forecast for the own firms 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.