If you were being kept awake wondering what truck movements were like in NZ during February, now you know.
- February +0.4% m/m after a revised +4.8% in January (heavy traffic index)
- Light traffic index down 1.3% m/m
ANZ note the discrepancy:
- heavy suggest decent beginning to year for activity but the light suggests momentum in the economy has turned
--
- 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.
The data point in not generally an immediate mover of the forex.
