Business activity indicators still aren't strong -- despite business confidence being the highest since March

ANZ's business outlook survey showed a strong bounce back of activity after the initial hit in April.

Across the economy, firms appear to be confident the second outbreak of Covid-19 in the community is well under control.

ANZ Chief Economist Sharon Zollner says there's still a long way to go.

She says there's been enormous fiscal support through the wage subsidy that's about to roll off -- and the loss of tourism won't be felt until summer.