ANZ's proxy measure for New Zealand economic growth, the Truckometer is a measure of traffic flows

Heavy -1.5% m/m

  • prior revised higher to +6.5% from +6.2%

Light -0.1% m/m

  • prior +2.7%, revised from +2.6%

ANZ citing the election as a contributor to the fall this month

Say the economy may not have grown much in Q3 ...

The Heavy Traffic Index has flattened off and suggests GDP growth was weak in Q3.

  • This is consistent with softer construction and housing, key pro-cyclical parts of the economy.
  • The good news is that rejuvenated economic drivers are on the horizon, but that horizon is still a way off and there is an election-related uncertainty pothole in the meantime.

A man and a truck and fun.