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Buoyed by optimism about the U.S. economy, CMOs said they plan to increase marketing budgets by an average of 8.7% this year, according to the biannual CMO Survey released Wednesday by Duke University, the American Marketing Association and McKinsey & Co.

The study was based on an online survey of 288 senior marketers in the U.S., of which roughly 70% work for b-to-b companies.

When asked to rate their optimism about the U.S. economy on a scale of 0 to 100 (with 100 being the most optimistic), CMOs gave an average rating of 70, a record high since the survey was launched in February 2009 and the optimism rating was only 48.

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