ANZ truckometer for November (heavy), +0.7% m/m

  • prior was +1.0%, revised from +0.9%
  • The 'light' traffic index is +0.2% m/m (prior -0.3%)

ANZ comments:

  • The indicator suggests GDP for Q3 will come in around 0.5 to 1.0% ... and Q4 even stronger
  • Economy is "running faster than many realise"

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The ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around the country (more detail here)

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The RBNZ is coming up on Thursday (local NZ time, which is Wednesday evening GMT):

  • Preview of the RBNZ monetary policy meeting this week, and trade for the NZD
  • Reuters polled economists and 21 of 24 reckon the RBNZ is likely to cut interest rates on Thursday

Market pricing (OIS) is showing a 62% of a cut of 25 bps