NZ data (ANZ Truckometer) shows heavy traffic in March +2.8% (vs. previous at +3.3%)

ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around New Zealand. ANZ use traffic flows in this indicator as a proxy for economic growth.

• Heavy traffic index +2.8% m/m (vs. previous at +3.3%)
• Light traffic index +1.7% (previous +1.3%)

ANZ note that varying degrees of lockdowns across the country is making the data more difficult to interpret but say 'in the big picture traffic seems to be back on trend'.