ANZ Truckometer Heavy index for January 2020
- Last month -2.5% (December 2019)
- ANZ Truckometer Heavy index rose 4.8% in January versus -2.5% in December.
- 3 month average rises 4% year on year
- light traffic index rises 2% for January. +1.9% year on year
ANZ says:
- both gauges agree that the slowdown in economic momentum has found a floor, consistent with our January economic forecasts of a bouncing growth from here
- coronavirus outbreak is made if any forecast highly uncertain, but the data does show that momentum in the economy has lifted which is helpful when facing this kind of economic uncertainty
The ANZ Truckometer is derived using traffic volume data from around the country. In New Zealand a large portion of freight is moved by road. As a result it represents an extremely timely barometer of economic momentum. The heavy traffic index shows a strong contemporaneous relationship to GDP
