ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around New Zealand. ANZ use traffic flows in this indicator as a proxy for economic growth.
- Heavy Traffic down 4.2% m/m, July revised to +3.9%
- Light Traffic rose 0.3% m/m
ANZ comments, in brief:
- not sending good signals about Q3 GDP (albeit a mointh still to come)
- business sureys have been downbeat on the near term outlook for some time
- light traffic index trending down, but suggesting Q4 may improve
NZD little changed.