Global economic confidence is at its highest level in years, with strong growth since the start of 2017, according to the latest Global Economic Conditions Survey from the Association of Chartered Certified Accountants and the Institute of Management Accountants.

Economic confidence is at its highest since the first GECS survey was issued assessing Q1 2009.

GECS is the largest regular economic survey of accountants around the world, in terms of both the number of respondents and the range of economic variables it monitors.

The new survey found that confidence in North America rebounded strongly in the first quarter of 2018, with 38 per cent feeling more confident about the future, compared with just 26 per cent who were less confident.

While confidence in China fell again for a second successive quarter, it is still at the fourth highest level since 2009.

Lloyd Powell, Head of ACCA Cymru Wales, said: "The outlook for the global economy is as good as it has been for some time.

"The continued rising confidence, led by North America, is also benefitting other key trading economies such as Africa and South Asia. Despite the political uncertainties caused by Brexit, confidence in the UK and Western Europe also remains strong."