> New Zealand ANZ Truckometer for October: +4.6% m/m (prior was -3.2%)

New Zealand ANZ Truckometer for October: +4.6% m/m (prior was -3.2%)

Eamonn Sheridan

Thursday, 08/11/2018 | 21:00 GMT-0

ANZ's indicator uses traffic flow as a proxy for GDP growth

There are two indexes, that for 'heavy' traffic and that for 'light'

Heavy +4.6% m/m

previous was -3.2% 9revsied from -2.6%
+4.3% y/y (ANZ use a 3 month MA for this)

Light index +0.4%

The October results is the first for Q4, ANZ saying the index sending a signal of a bounce back for the economy. ANZ are still cautious, saying H2 growth has moderated.

NZD is little changed, this data point does not tend to move the forex, but nevertheless is a good piece of background info for what is going on there in NZ.