New Zealand ANZ Truckometer for August: +1.1% m/m (prior was -0.3%)

This is a measure of traffic volumes used as an indicator for economic growth

Heavy traffic index up 1.1% on the month

• from down 0.3% in July (revised from -0.4%)

Light traffic index +0.9% m/m

ANZ comments:

• light traffic index showing economy losing momentum in the short term
• heavy traffic index looking supportive for Q3 GDP