ANZ's proxy measure for New Zealand economic growth, the Truckometer is a measure of traffic flows

Heavy index comes in at +2.9% m/m

  • prior -1.5%

Light traffic index - 0.6% m/m

  • prior -0.1%

ANZ comments (in brief):

  • economy may not have grown much at all in Q3
  • October data suggest a more positive start Q4
  • ANZ remarking on the political uncertainty in reference to the 'light' result (this indicator is used as a guide to growth 6 months out)

The data point is not usually an immediate FX mover