He said issues around workforce absenteeism due to the latest impact of the coronavirus were abating, and in the first two months of this year consumer spending is four per cent higher than a year earlier.
"We've seen business conditions improve and business confidence come back and jobs ads are still more than 30 per cent higher than at the start of the pandemic," he told ABC radio on Thursday.
"Omicron has not derailed our economy."
Wednesday's national accounts showed the economy surged by a strong 3.4 per cent in the December quarter, matching the rebound after the 2020 recession, which was a 46-year high.
This followed the 1.9 per cent contraction in the September quarter caused by the Delta COVID-19 variant lockdowns.
However, shadow treasurer Jim Chalmers believes the government is again being too complacent about the recovery
"We've had now five or six times where the treasurer has said the economy's roaring again and that it's all fine," he told ABC radio.
"It's why we need a genuine plan to get the economy growing and not just more of these billions of dollars of political patch ups and rorts and waste and mismanagement that we currently see in the budget."
Mr Frydenberg will hand down the budget on March 29 ahead of a federal election in May.
Meanwhile, Australia's construction industry saw some improvement in February after the disruptions caused by Omicron over December and January.
The Australian Industry Group/Housing Industry Association performance of construction index rose 7.5 points to 53.4 in February, indicating the sector is again growing with a score above 50 points.
Ai Group chief policy advisor Peter Burn said there was a healthy pick-up in new orders across the construction sector, and while difficulties in supply chains persisted in the month, the pace of decline in supplier deliveries eased.
Ongoing inflationary pressures were also evident with cost rises for inputs and wages growth remaining elevated.
"These conditions, together with the rebound of new orders suggest further inflationary pressures in the period ahead," Dr Burn said.
Other new figures due from the Australian Bureau of Statistics will give a further flavour of how the economy is performing in the early stages of 2022.
Building approvals for January are expected to fall by three per cent as the earlier impact from the HomeBuilder stimulus measure is unwound.
Approvals jumped 8.2 per cent in December reflecting a strong rise in the more volatile "other dwellings" category, while private sector house approvals fell by a further 1.8 per cent and are now down 31.5 per cent since April 2021.
The ABS will also release the international trade balance for January, where economists' forecast centre on a surplus of $9.3 billion, larger than the $8.4 billion reported for December.
Monthly surpluses have gradually wound back after a record high of $13.3 billion in July last year as iron ore prices retreated from their lofty heights and imports strengthened as the Australian economy reopened.
However, Westpac economists are expecting a 6.7 per cent bounce back in exports for January due to higher prices and shipments of iron ore and coal, outpacing a 2.7 per cent increase in imports due to higher fuel costs.
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