In the warm spring show what was best to see was the turn in the business confidence. And this has happened for better and not for worse.

After showing five clear months of decline, the business confidence survey done and released by the National Bank has finally picked up. As many as 24 per cent of the respondents were in the positive territory while only 10 per cent were there during the last month.

After adjusting the seasonal factors the up trick, that was done during the beginning of the agriculture situation still continued to be in the positive. It was up by +7 per cent to + 9 per cent. But what is more important and better is that even the firms have performed better than forecast and have been in the green zone.

Businesses net were up 25 per cent as against +20 per cent during last month. However, what cannot be neglected is that long term average was below the expected level.

The only bad news was the casualty that New Zealand's dollar had faced at the cross-rate level. Exports had dropped 12 per cent during the month.