ANZ's 'Truckometer' is an indicator of traffic flows in New Zealand, used as a proxy for GDP

The heavy traffic index is -1.5% m/m with the previous revised to +3.4%

  • +2.1% y/y (3 month ma basis)

The light traffic index +1.2% m/m & +1.2% yay also

ANZ comments:

  • both indicate economy has lost momentum
  • data has gotten better in recent months
  • annual GDP growth set to bottom out around the current level of 2%