As per figures reported for the month of October by the National Bank Business Outlook, as a result of the current economic times, business sentiments are definitely cautious but seem to be much optimistic as compared to those reported nearly a year ago, when the worst economic crunch was experienced globally.

According to the data revealed, the construction industry seemed to be the most confident and optimistic of the future as 75% of the construction related businesses included in the survey predicted better and stronger earnings in the coming times.

"It is hard to describe the readings as anything other than stabilizing at elevated levels", said National Bank's Chief Economist, Cameron Bagrie. "Balance sheet consolidation and de-leveraging continue to dominate".

The survey, which ran for a month, included responses from business customers. It was revealed that 48.2% people predicted stronger and better times in the coming 12 months. October's survey has seen the strongest jump than it had seen since over five years.