An NZIER survey shows business confidence is at its highest point in almost 12 years

The latest Quarterly Survey of Business Opinion reveals a net 39-percent of firms expect better economic conditions in coming months.

Today's result is a sharp rise, from a net 17-percent three months ago.

And it's broad-based - with sentiment improving across sectors and regions.

The survey of about 10-thousand New Zealand firms is closely watched by the Reserve Bank.