Business confidence in the September quarter rose although business condition eased marginally, according to new figures.

The NAB quarterly business survey showed business confidence rose six points to nine points, a level that has not been seen since the pre-global financial crisis days of 2007. A reading above zero indicates optimists outweigh pessimists.

The rise came while business conditions fell one index point to five as the increase in profitability was offset by softer employment with the trading index unchanged at four points. The profitability index rose one point to four points while the employment index shed three points to six index points.

Confidence improved in all sectors other than finance. Business conditions were strongest in transport, services and recreation, and weakest in retail, wholesale, property and construction.

"Although financial markets were generally calmer than in the June quarter, concerns did emerge about the pace of the recovery in the US and China," NAB chief economist Alan Oster said in a statement.

"Signs of softness in the domestic economy appeared, with forward orders slipping into negative territory and capacity utilisation declining."

NAB expects the Reserve Bank of Australia to lift the cash rate before Christmas and forecasts a rate of 5.5 per cent by September 2011.

The official interest rate is currently at 4.5 per cent.