The overall confidence in the global economy has improved in the first quarter of this year compared to last three months of 2012, according to a World Economic Forum (WEF) survey.
The improved confidence has emerged amid positive signs from the debt-laden euro zone and hopes that worst fears about US debt turmoil would be allayed.
"The first Economic Confidence Index result of 2013 gives us some cause for optimism, but the figure is still in negative territory overall.
"We still need dynamic leadership to drive the economy ahead and overcome challenges," Martina Gmur, Senior Director of the Forum's Network of Global Agenda Councils, said.
The World Economic Forum's Economic Confidence Index rose to 0.43 in the first three months of this year from 0.38 recorded in the 2012 December quarter. On a scale of 0 to 1, the latest reading is "closer to optimistic territory of over 0.5".
This is the second highest level of economic confidence shown since the Index was started seven quarters ago.
