Confidence among Australia's top 300 listed companies has surged after two consecutive quarters in the red.
A National Australia Bank survey of Australia's top 300 listed firms found confidence levels rose 11 points to seven points in the June quarter.
NAB group chief economist Alan Oster said confidence was boosted across all industries, although manufacturing, transport and utilities remain negative.
"Recreational services remain the most confident, followed by retail, with construction improving most," he said.
Business investment plans gained momentum, and now are at the strongest level in more than three years.
The jump was driven by large gains in finance and property, while mining remains depressed.
"Looking ahead, while non-mining capital expenditure intentions remain modest over the next twelve months, large construction firms plan to ramp up their business investment," added Mr Oster.
But measures of profitability among the top 300 companies remain lacklustre due to ongoing negative sales margins, he said.
Profitability shed half of its value from the first quarter and is now at its weakest level in almost two years.
Meanwhile, export sales among the 300 increased amid a tumbling Australian dollar, while export orders remained broadly unchanged.
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