ANZ use traffic flow in NZ as a proxy for GDP
Heavy traffic index
- -3% m/m
- prior revised to +5% in January
Light traffic index
- - 0.7% m/m
ANZ comments:
- Index changes not unusually large
- "indicating that activity remained largely business as usual around the country"
- pockets of weakness in logging-intensive regions
- economy had decent momentum before the virus impacts take hold
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Indexes use volume figures for light and heavy traffic on 11 specific roads in New Zealand
