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INVESTORS are more upbeat about the global economy than at any time in almost five years, a survey found.

Business reporting service Bloomberg said 59pc of its subscribers believed economic outlook is improving, up from 33pc in November. The figures were released as the World Economic Forum's annual meeting opened in the Swiss ski resort of Davos.

Strength in the world's richest economies was cited as the main reason for confidence by almost two-thirds of the 66pc who said they were more positive than a year ago.

The enthusiastic tone is set to be reinforced as more than 2,500 leaders of finance, business and government gather from tomorrow in the Swiss Alps.

The Davos meetings of recent memory have been overshadowed by crises ranging from the recession of 2009 to subsequent fears of a euro-area break-up.