The IHS Markit Global Business Outlook Survey – based on responses from a panel of 12,000 companies between February 2-25 – pointed to a notable improvement in business confidence at the start of the year.
At +32%, up from +26% in October 2020, the business activity net balance indicated the strongest degree of optimism in three years.
- Sentiment towards business activity hits three-year high
- Largest improvements seen in Europe, particularly Spain, Ireland and the UK
- Confidence unchanged on late-last year in Brazil, China, Japan and the US
- Staff hiring and investment plans improve globally, led by upward revisions in Europe
- Inflationary pressures set to intensify due to difficulties in international shipping