ANZ collate traffic flow data for their Truckometer indicators, arguing it is a useful proxy for GDP growth
There are two indicators, the 'heavy', which the headline
- prior -2.7% revised from -2.5% m/m
- ANZ comment -on a 6 month moving average it still shows reasonable momentum
And the 'light'; the light traffic indicator, says ANZ, is a leading indicator of economic growth
- up 2.2% m/m
- ANZ comments this is sending a sginal for 'soft' GDP growth mid year
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The results adding to indications that growth has slowed a little in NZ. Still positive, but not a rock star levels.
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Choose your favourite truck driver:
