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 rose 0.8% m/m
- Light Traffic +0.9% m/m
ANZ commentary on the report:
- Growth in traffic may be finding a floor, consistent with our expectation that economic growth will bottom out around the middle of the year.
- We are indeed expecting annual growth to pick up from the middle of the year, but less aggressively than predicted by both the Reserve Bank and Treasury.
