Data collected in February show global business conditions continuing to improve and marketers “at their most positive since the index began five months ago,” Warc said.

The positive headline results (which take into account trading conditions, budgets and staffing) were driven by the Americas, Warc said, where marketing budgets were up. The data suggests that macro conditions in the US are “markedly improving”. Budgets were down in other regions, although the rate of decline has slowed significantly over the past three months.

Budgets were up for digital and mobile marketing, but down in traditional areas. Staffing levels are improving in all regions, particularly the Americas.

The results are based on a global panel of executives at brand owners, media owners, agencies and other organisations serving the marketing industry.