"The rebound in confidence over the past month has been significant," says TI chief executive John Manners-Bell. "It is too early to call an upturn, but...we should not be blind to the positive sentiment our Index reveals."
At the same time, Manners-Bell notes that the index of current performance continued to weaken, dropping to -4.43 in April from +1.05 in March. He says the contrast between the performance and confidence indices represents a belief the economic downturn will not be long-lasting.
Regionally, survey respondents consider the North American market the weakest, though they anticipate it will experience a greater bounce back than other markets by this time next year. Asia Pacific and Western European respondents are also confident about the future, but Central & Eastern European respondents expect their markets to weaken significantly over the next 12 months.
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