New Zealand data – ANZ Truckometer for December: +2.1% m/m (prior was -2.8%)

ANZ Truckometer for December, +2.1% m/m

• prior was -2.8% (revised from -2.9%)

• Heavy traffic index rises 2.1% m/m
• Light traffic index rises 1.5% m/m

ANZ comments:

• “Both the Heavy and Light traffic indexes showed recoil from dips in the month prior. It’s typical to see intra-month volatility across such indicators.”
• “The broad trends for growth remain solid, albeit at what appears to be a moderating pace”

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The index uses New Zealand Transport Agency volume figures for light and heavy traffic on nine specific roads, in doing so it measures traffic volumes as a proxy for GDP growth.