Executives' outlook on the global economy is on the up, according to a survey conducted by McKinsey, an international business consultancy. The survey, which sampled more than 1200 business executives from around the world, found that nearly half of respondents considered global economic conditions to be improving, which was up from 37% in the same survey in June 2013. Similarly, the proportion of respondents that expected further improvements in the economy in the next six months was up from 41% to 48%.

Significantly, this increased optimism is shifting from being almost exclusively connected with the growth opportunities in emerging markets, to a more positive assessment of market conditions in developed markets. The eurozone, in particular, is the subject of increased optimism. In June's survey, just 25% of respondents said that the economic conditions in the region were improving. This figure grew to 59% in September's survey. The proportion of respondents that expect economic conditions in the eurozone to improve in the next six months was also up, from 39% to 63%.

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The proportion of investors that consider economic conditions in North America to be improving increased from 34% to 43%. Uncertainty about the US's position in Syria and the Middle East as a whole, as well as concern about the possible effects of the US Federal Reserve's 'tapering' of its bond purchases, were among the factors cited as threatening the North America economic outlook.

The outlook for emerging markets was also improved compared with June, with 45% of respondents citing improvements in the economy compared with 37% in June, and 47% expecting further growth in the next six months compared with 42% in June.