Sector-Specific Insights:

Industrials increased by 7% which was primarily driven by a 25% increase in perceived economic conditions and a 10% increase in confidence relating to company growth expectations.

Financials recorded the largest increase in confidence at 23% moving to a score of 71.14 points. The increase in overall confidence was primarily driven by an increase in perceived economic conditions and industry growth prospects.

Information Technology increased by 8%. The increase in overall confidence was primarily driven by a 39% increase in perceived economic conditions and a 23% increase  in planned levels of investment.

Consumer Discretionary recorded the second largest increase of 22%. The increase in overall confidence was driven by increases in contributing individual components of the index namely, 65% increase relating to improved economic conditions, increase in industry growth expectations by 39%,  company growth expectations by 12% and in planned level of investment by 14%, despite confidence in the ability to secure debt or equity capital remaining flat.

Consumer Staples went up to a score of 61.67 seeing a 4% increase in overall confidence supported by stable demand for essential goods and improved supply chain efficiencies.

Health Care went up by 6% despite a 37% drop in confidence relating to industry growth expectations. The primary area of concern is due to challenges including regulatory hurdles and cost pressures.

Materials recorded the third largest increase in confidence at 21% moving to a score of 64.44 points. The increase in overall confidence was primarily driven by a 77% increase in industry growth prospects.

Real Estate saw an 18% increase which was predominantly driven by a 25% increase in confidence relating to economic conditions.

Communications Services recorded the only decrease of 4%, despite still being the most confident sector overall at 81.23 points.