Traffic flows in New Zealand in April, the headline is the 'heavy' traffic index

Down 1.8% for April

  • prior +1.7% m/m

ANZ's summary (bolding is mine):

  • Both ANZ Truckometer indexes eased in April, reversing lifts in March. Such noise is typical of monthly indicators
  • The Heavy Traffic Index fell 1.8% m/m, while the Light Traffic Index fell 1.5% m/m (the charts below are a 3-month average)
  • Despite the dip, the Heavy Traffic Index continues to trend solidly upward
  • The upward trend in the Light Traffic Index has been less definitive of late, suggesting patchier growth in store
  • We expect growth to ease as 2017 rolls on. Capacity constraints are biting; getting skilled or unskilled employees is difficult. Credit is a bit harder to get. It's not a bad thing - overheating can lead to engine problems.


The 'Truckometer' measures traffic flows in New Zealand and is a proxy for GDP

  • ANZ point out that traffic flows are a real-time and real-world proxy for economic activity - particularly for the New Zealand economy, where a large proportion of freight is moved by road.
  • There are 2 parts to the indicator, that for heavy traffic and that for lighter traffic
  • ANZ use the Light Traffic Index as a lead indicator for GDP by six months


The big news is that US politics: Trump has fired FBI director James Comey

And I here I am posting on the Truckometer ... sad.