Business confidence on the Indian Ocean island of Mauritius rose to a record high in the last quarter of 2017, a survey of leading private companies showed on Thursday.

The Mauritius Chamber of Commerce and Industry’s quarterly confidence index climbed 8.5 percent to 123 points. The index increased 26.2 percent last year.

“These successive increases (in the index) indicate a positive optimism of entrepreneurs, who consider that globally the economic situation is improving since the last quarter of 2016,” the Chamber of Commerce and Industry said in a statement.

Mauritius’ economy grew by an estimated 3.9 percent in 2017, slightly up from 3.8 percent in 2016. The statistics office said the economy was likely to expand by 4 percent this year, driven by the construction sector.

With a population of 1.3 million, Mauritius’ $14 billion-a-year economy, relies on services like tourism and financial services. Its main trade partners include India and Britain.

($1 = 32.2500 Mauritius rupees)