New Zealand – ANZ Truckometer (heavy) September: +1.8% m/m (prior at -1.2%)

ANZ Truckometer (The index measures traffic volumes as a proxy for GDP growth).

For September, comes in at +1.8% m/m

• prior was last at -1.2%

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From the ANZ report, their “key points”

• The ANZ Heavy Traffic Index lifted 1.8% in September… The strong month saw the index rise 1.4% in the September quarter, restoring the upward trend
• However, the index continues to suggest a growth slowdown ahead
• The ANZ Light Traffic Index leads GDP by six months. It lifted 0.7% in the month of September and 0.1% in the September quarter (sa)
• It suggests ongoing solid momentum over the second half of the year. While this prediction is based largely on data that pre-dated the sharp dairy price fall, it does illustrate that the domestic economy has plenty of pep.