This month, North American investors became more bullish about the economic situation than those in other regions, according to the monthly snapshot of confidence by State Street Global Markets, part of Boston-based State Street. However, Asian investors remain the most cheerful overall, the data showed.

The State Street Confidence Index rose 4.8 points in July to 96 from June’s revised reading of 91.2. Confidence increased in North America, gaining 5.4 points to 99.9 from June’s revised reading of 94.5.  Among European investors confidence rose 2.4 points from 97.6 to 100.0, and in Asia, following suit, confidence ticked up 2.1 points from 102.4 to 104.5, the US bank said.

The State Street Investor Confidence Index measures investor confidence on a quantitative basis by analyzing the actual buying and selling patterns of institutional investors. The index assigns a precise meaning to changes in investor risk appetite: the greater the percentage allocation to equities, the higher is risk appetite or confidence.

The index figures come at an uncertain time for markets and economies, with some economists continuing to talk about the risks of a “double-dip” recession.