Optimism in the U.S. about economic growth is boosting business confidence, a survey of chief executive officers showed.

According to YPO, an organization for business leaders, an indicator of U.S. economic confidence reached 64.6 in the fourth quarter of 2016, its largest single-quarter gain in five years from 60.4 in the third quarter.

The U.S. boasted the highest confidence ranking among the regions surveyed.

"(It's) not surprising given some stability, at least, about who is now known to be the leader and taking it foward," said YPO member Anuj Lal, who is also group general manager at Kimberly Clark.

President Donald Trump, who took office last month, has raised expectations that promises of lower taxes, less regulation and higher spending will spur the economy.

The upbeat sentiment among U.S. business leaders was in contrast to a more cautious outlook in Asia.

For the first time since October 2015, Asian business leaders were less confident about the economic outlook than their global peers collectively, but they still expected to increase revenues, hiring and fixed investment, according to quarterly survey of 24,000 chief executive officers based in 130 countries.

According to YPO's quarterly Global Pulse Confidence Index released on Tuesday, chief executives in Asia reported a modest increase in economic confidence, climbing 1.2 points to 61.2 in the fourth quarter of 2016 on the back of moderate GDP growth in most of the region's major economies. That lagged behind the global reading of 62.2 — which saw a "significant increase" of 3 points from 59.2 in the third quarter of the year, according to YPO.