Confidence in the economy has improved since December, according to a BNZ survey.

The bank's first confidence survey for 2012 has shown a small increase in optimism among those spoken to, with 13% of people expecting things to improve during the next 12 months, up from 3% in the first week of December.

The result is the second improvement in a row and is in line with some generally improving indicators offshore, the bank said.

“While respondents continue to express concern about factors such as the delay in Christchurch rebuilding, consumers unwilling to spend, compliance costs and the high NZ dollar, the results overall suggest slowly improving economic growth is probable this year.”

Retail confidence is still low, although the recruitment sector is strong, the surveyed showed.