NZ data - ANZ New Zealand Truckometer (August) +6.2% m/m (prior -5.5%)
'Heavy' vehicle index is the 'headline', bounces back after the slide in July: up 6.2% m/m
- prior -5.5%
- ANZ: strongly
supports our contention that the July weakness was
related more to weather than changes in economic
fundamentals. Of course, broader economic activity
would also likely have been disrupted by the terrible
July weather, but traffic will be subject to an outsized
The light index +2.6% m/m
- prior -2.2%
- ANZ: Looking through the monthly volatility, the
Light Traffic Index continues to trend up
strongly. This suggests the New
Zealand economy has plenty of momentum at
present, despite any short-term headwinds coming
from election uncertainty.
The indexes are trending up, but despite the bounce-back the trend in the Heavy Traffic Index has flattened off a little.
You can't spell 'truck' without 'fun'!
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