'Heavy' vehicle index unchanged on the month
- previous was +4.0% m/m, revised from +4.1%
ANZ summary of the June result (bolding mine):
- The ANZ Truckometer indexes continue to give buoyant signals about the economy
- The Heavy Traffic Index was flat on the month, holding onto a strong 4% lift in May
- The Light Traffic Index matched the previous month's increase, lifting another 1.3% m/m
- The Heavy Traffic Index continues to trend solidly upward. The quarterly increase (2.3%) suggests a Q2 GDP outturn of over 1% q/q.
- The upward trend in the Light Traffic Index has returned with a vengeance, suggesting solid activity in the back half of the year.
NZD is little changed - good news on the NZ economy is nothing new!
--
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
