ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around New Zealand - used as a proxy for economic growth
April showing a huge drop as the entire country was placed in severe lockdown.
Heavy Traffic fell 45.0% m/m
Light Traffic Index fell 71.1% m/m
The month included 27 days of Level 4 lockdown
- and 3 days of Level 3
ANZ comment:
- This will mark the low point
- both heavy and light traffic seeing a big step up as a result of the move to Level 3, and another jump expected for Level 2.
- Heavy traffic is likely to be the better GDP indicator through this period.
