The New Zealand Institute of Economic Research is choosing to highlight the positives from its latest quarterly survey of business opinion despite several indications the recovery is patchy.
For example, the survey found business trading activity fell to a net 4% of firms reporting an improvement, from 10% in the March quarter.
The institute says this measure is a good indicator of economic growth.
As well, expectations that interest rates will rise have gone from a net negative 9% in the March quarter to positive 30%.
Institute chief executive Jean-Pierre de Raad says the recovery is still at an early stage but the fact that businesses are hiring and investing more is a sign of continued momentum.
He says businesses are now translating intentions into actions and this increased investment and employment activity has been increasing in the last couple of quarters.
He says the institute expects to see GDP growth of more than 2% on an annualised basis.