Global economic confidence is at a 10-year high, according to the results of a survey by the Paris-based International Chamber of Commerce (ICC) and the Munich-based economic research institute Ifo released in Paris yesterday by the ICC.
Sustained growth was expected in all regions, the ICC/Ifo World Economic Survey said.
"The overall economic climate indicator of the joint ICC/Ifo poll, conducted in January 2004, hit 7.3 out of a possible 9 -- its highest level since 1995, pointing to a pronounced upswing of the world economy," the survey said.
The poll, which surveyed 1,114 economic experts in 92 countries, "is the only one of its kind to give a global overview of business confidence," a statement said.
The poll "found that the favorable global conditions are also expected to have beneficial effect on export/import performance worldwide and thus on the world trade."
The survey noted that bird flu had devastated Asia's poultry industry, "but the region's overall economy appears not to have been otherwise noticeably affected, with domestic demand forecast to strengthen in almost all Asian countries."
Among the Asian nations surveyed by the ICC/Ifo Poll, India had become the "shining star" economically.
The survey results "indicate that the economy in North America will remain strong. In particular, the US economy demonstrated, according to poll experts, a strong performance last month. Given the high level of consumption and corporate investments, which are foreseen to underpin further growth, the foundations for further improvement remain favorable."
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