After two months of declines, the Accountants Confidence Index edged back up.

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 56.67, up more than a point from the previous month's 55.48, and still well above the 50 mark that separates expectations of growth from expectations of contraction. The 6-Month ACI, meanwhile, came in at 59.96, also up more than a point from last month's 58.21.

The index components mostly rose, particularly in terms of respondents' expectations for growth at their own firms, which were up almost two points in both the short- and mid-term. The only outlier was in their expectations for small businesses, which were down slightly in both time frames.

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.

Daniel Hood

Daniel Hood

Daniel Hood is editor-in-chief of Accounting Today and Tax Pro Today, and has covered the tax and accounting field for over 20 years.