Business confidence lifted in November, with more than 30% of companies optimistic about their prospects and more than 40% expecting an improvement.
Confidence was up in the three sectors of agriculture, manufacturing and service industries, while down in retailing and construction, according to ANZ chief economist Cameron Bagrie's ''business outlook'' survey for November.
He said firms' own activity and profit expectations, and their employment and investment intentions, had been oscillating within a very narrow range for six months now.
''That's pretty remarkable when we consider a background that has involved movements in interest rates, swings in the New Zealand dollar, lurching commodity prices and other vagaries that can throw sentiment around - a general election for one,'' Mr Bagrie said.
Such stability within the survey showed that firms were ''simply getting on with it'', Mr Bagrie said.
He said sentiment ''across the heartland'' showed a healthy lift, which was surprising considering continuing falls in global dairy prices and ''real prospects'' of a below $5 per kilogram dairy payout by Fonterra.
Westpac senior economist Satish Ranchhod said helping underpin the improvement in business sentiment was a continued firming in domestic demand.
''Household spending is up, net immigration is at record levels, and the housing market is showing signs of lifting,'' he said.
Growth was being supported by increases in construction, particularly in Auckland and Canterbury's rebuild, as well as the boost to demand from strong population growth.
''These developments are helping to keep the economy chugging along as the boost from high export prices earlier in the year continues to fade,'' Mr Ranchhod said.
