The survey would carry on from where last week's ANZ business confidence survey left off - very much on the up, BNZ senior economist Craig Ebert said.
Although that might not be so obvious from the QSBO net confidence measure, which was 19 in June because it did not directly survey farmers, in terms of output, investment, employment and profits, the third-quarter survey results were expected to be expansive.
It was likely to indicate a ``genuine stretch'' was emerging in the economy, to be highlighted by the survey's wealth of capacity-constraint variables.
``Whether this is enough to be lifting the general cost and pricing variables in the QSBO remains to be seen.''
What had become apparent was that the QSBO had tended to run closer to GDP growth outcomes than had the monthly ANZ business survey, which had over-predicted for many years, Mr Ebert said.
``Then again, the ANZ survey might seem to have better reflected the ups and downs of commodity export prices over recent years. This make sense given its canvassing of farmers. If this just means the ANZ is better at showing nominal [income] GDP growth, that should be borne in mind.
``In the end, it's all honest information from respondents to the various business surveys about the lay of the land and the way ahead. And who's to say it's inferior to GDP measures anyway - especially as GDP is prone to revision.''
In terms of specifics, in today's Quotable Value housing report there was a good chance its annual house-price inflation measures for September would maintain their recent strength, Mr Ebert said.
But, more than usual, the commentary would be where the real news was likely to reside, especially in light of the recently tightened loan-to-value policy, which required 40% deposits by investors using local bank funding.
If the New Zealand housing market genuinely came off the boil, it would pay to watch the currency, as there had been a ``reasonable relationship'' between the two, he said.
Early tomorrow morning, the GlobalDairyTrade auction prices might take a rest from their rapid gains in recent months. If he had to make a prediction, Mr Ebert said he would lean towards a plus sign rather than a minus.
Also today, the Reserve Bank of Australia was expected to keep its official lending rate unchanged at 1.5%. This would be the first meeting with incoming governor Philip Lowe, after the retirement of Glenn Stevens. There was very little in the September statement different from that of the previous month.
