New Zealand's business confidence eased in the beginning of 2010, but continued in a positive territory, results of a survey conducted by the Bank of New Zealand showed Tuesday.

According to BNZ's first business confidence survey of this year, a net 37% of respondents expect the economy will improve over the coming year, a decline from 43% in the last survey undertaken in December.

BNZ chief economist Tony Alexander said sentiment in most surveys soared from the middle of 2009 as a huge sign of relief was expressed over avoidance of a Great Depression scenario.

"Now more realism is setting in and we could easily see the recent downward trend in sentiment continue toward the middle of the year - in our survey and in others," Alexander added.