A busy week for data releases started encouragingly yesterday with the Westpac McDermott Miller consumer confidence index remaining unchanged for the three months ended September 12.
The index for the quarter was 112 where a number above 100 indicates more optimists than pessimists.
Westpac chief executive Dominick Stephens said New Zealand households continue to turn their focus to recovery.
"While they remain cautious about their personal financial situation, they are becoming increasingly confident that economic prospects will improve over the coming year.
Along with other recent business and consumer surveys, that bodes well for an ongoing gradual expansion in domestic spending."
The survey showed a drop-off in longer-term economic confidence, which Mr Stephens said could be a reflection of some of the recent bad news concerning the global recovery.
Also it could be a reaction to some of the longer-run costs associated with the Christchurch earthquakes. However, long-term economic optimism remained historically high and overall, yesterday's survey showed confidence remaining on track, he said.
Tomorrow, Statistics New Zealand will release the latest current account data for the three months ended June.
Although historical information, the current account data will provide a snapshot of how the economy was faring mid-year.
Mr Stephens expected the deficit narrowed slightly in June to 4% of gross domestic product (GDP), led by an improving trade balance.
Commodity exporters continued to benefit from high prices in the quarter, meaning the more than two and a-half year run of quarterly trade surpluses was likely to continue.
With visitor arrivals hit by ash-cloud disruptions to flights, the high value of the New Zealand dollar, and the negative impact of the Christchurch quake on visitor arrivals, the services balance was likely to remain in negative territory, he said.
The investment income balance was likely to have deteriorated in June as earnings in the insurance industry rebounded following the earthquake-affected March quarter.
Most attention will focus on the release of the June GDP data on Thursday.
ASB chief economist Nick Tuffley said the economy was likely to have grown by 0.1% in June, following 0.8% growth in March.
"Initial indicators had pointed to growth maintaining momentum in the second quarter. Confidence remained buoyant while spending data was strong."
But more recent data showed a sharper pull-back in manufacturing and wholesale trade than thought. Further falls in construction activity would prove to be a large drag on activity in June, he said.
