The ANZ Truckometer is an index that measures traffic volumes as a proxy for GDP growth. The ‘heavy’ refers to the heavy vehicle index (the big trucks
).
- The prior is -1.0%, revised from -1.1%
Says ANZ:
- The upward trend in the index remains in place
- Data for the first quarter of the year consistent with quarterly GDP growth of around 1.0%
- The overall picture is that economic momentum will continue through the middle of the year
- The pace is perhaps starting to ease a little
- We may well be past the peak of quarterly growth in the current upswing
- However, annual growth will continue to accelerate, and the ANZ Truckometer continues to suggest the economy will keep trucking along into the middle of the year
-
The NZD is not doing much at all so far this session, marginally up.
—
