Economic confidence rebounded in the first quarter of 2017, and is now at its highest level since the second quarter of 2015.
The boost has been driven by the US, where investors are hopeful that a combination of fiscal reform and deregulation will provide a boost to economic growth.
The biggest concern for companies over the past three months has been increased costs (a problem for 46% of respondents), which is consistent with rising headline inflation rates in many parts of both the developed and developing worlds. The negative impact of foreign-exchange movements, amid continued swings in the value of the dollar, are another big concern (35%).
Although driven by the US, the improvement in confidence is widespread. Most countries and regions, including Western Europe, Asia Pacific, Central and Eastern Europe, reported improvements in Q1.