Business confidence is rebounding from a dive after the Christchurch quake, with Canterbury leading the way after a massive slump last month.

The National Bank survey this month shows a net 14 per cent of businesses are expecting better times for the economy over the coming year, up 23 points on March.

Firms' own activity expectations lifted 15 points, to a net 30 per cent expecting improvement in the coming year.

To recover two-thirds of the fall in activity seen in the previous month was encouraging National Bank said. The survey suggested economic growth of about 3 per cent this year.

Canterbury led the rebound in confidence. Headline confidence in Canterbury rose 59 points this month, after falling 92 points last month. Firms' own activity expectations in the region lifted 35 points, bettered only by the Waikato, which may reflect "the aura of an open rural cheque-book" National Bank said.

Nationally, the employment outlook has moved back into the black. Profit expectations moved up from zero to plus 8.

Residential investment intentions jumped with a net 48 per cent of businesses expecting better times ahead.

- © Fairfax NZ News