The latest survey has showed improvement across all the sectors, leading to business confidence at its highest level, since 1999. Firms believe the general economy is "extremely perky" with 50% of respondents anticipating better times over the year ahead, according to the National Bank Business Outlook survey.

The economic recovery is getting strengthened and may speed up, revealed the survey. The drought-stricken agriculture sector lifted two points. The construction sector witnessed largest month increase which was up 12 points to 56.

Investment intentions are lagging firms' own expectations, but the survey is showing rising course for profits.

Hiring intentions improved during the month and are at a five-year high. More firms in the economy are expecting unemployment to fall rather than rise.

Most of the cash analysts expect the Official Cash Rate of the Reserve Bank, to hold steady for a few more months.