ANZ Truckometer is a set of two economic indicators using traffic volume data from around New Zealand ( New Zealand Transport Agency volume figures for light and heavy traffic on 11 specific roads). ANZ use traffic flows in this indicator as a proxy for economic growth.
- Heavy Traffic -2.5% m/m, prior revised to -1.6%.
- Light Traffic -2% m/m
ANZ remarks on the report:
- the slowdown in economic momentum may be finding a floor
- light traffic index points to slightly better GDP in the next half year
- suggests modest positive GDP growth outturns over the next six months