ANZ use traffic flows in this indicator as a proxy for economic growth
The 'heavy traffic' index is +3.5% on the month for January
- December was -4.4%
- the 3 month MA for y/y is +1.5%
The 'light' index +2.2% m/m
ANZ's take on the release is it shows the NZ economy slowing momentum, indicative of modest growth for GDP.