ANZ's measure of traffic flows

Heavy traffic index down 0.4% m/m, June revised to 0.1%

  • y/y (3 month moving average) is +5.4%

Light traffic index +0.4% m/m

ANZ comments:

  • Growth in the index is going sideways
  • With weaker business confidence of late, the data "provides reassurance that there is still plenty happening out there":
  • Cooling in the trend
  • economy will continue to gently lose steam

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The ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around the country

  • ANZ Heavy Traffic Index shows a strong contemporaneous relationship to GDP
  • ANZ Light Traffic Index has a six month lead on activity as measured by GDP

The 'headline' is the heavy index.