A recovering global economy and positive stock market returns have done wonders for investor confidence, suggests a report released Friday by Russell Investments.

The Russell Financial Health Index, an online calculator that gauges the overall financial health of Canadian investors, recently increased for the first time since the fourth quarter of 2008, after trending downward for four consecutive quarters.

The index is now at 49.74 points, up from 47.95 points in the third quarter of 2009.

Investors who recently used the online calculator displayed less concern across almost all of the 11 financial factors listed in the index.

For instance, investors who used the index I were less concerned about their ability to lead an active and healthy lifestyle. However, having sufficient income to cover essentials in retirement remained a growing issue.

The index gathers its data from a confidential web survey, which takes approximately five minutes to complete. Based on a user’s answers, a Financial Health Score is assigned, which can be measured against the scores of other Canadian investors who have used the tool.