With 30 sector risk rating upgrades and 8 downgrades, the upswing in global growth has a clear effect on industries worldwide. The changes in sector ratings demonstrate a bullish cycle with nearly three times more upgrades than downgrades in Q4 2017. Four key topics emerge: the Automotive sector is very much back on track, the Construction sector is recovering at a slow pace, Machinery is poised to recover, and Europe solidifies its position as the region in the lead when it comes to upgraded sectors.