Dealmakers polled in May continued to report month-to-month increases in overall deal flow, based on the composite score of 57.9 in the Mid-Market M&A Conditions Index (MACI), a barometer created by Mergers & Acquisitions and published in partnership with PwC.

(See related graphic.)

The pace of growth slowed slightly from April, when the composite score of 61.3 hit its highest point since the index began in October 2013.

Factors that had the largest impact included survey respondents’ assessment of early-stage indicators, such as Leads, with a score of 68.4 and Signed Letters, at 64.7. Another contributor was Completed Deals, with a score of 54.9.

The scores continue to dovetail with the optimism dealmakers have expressed about 2014 in eight months of surveys and interviews.

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