ANZ's 'Truckometer' is an indicator of traffic flows in New Zealand, used as a proxy for GDP
The heavy traffic index has come in at a whopping +3.0% m/m change
- after the April figure of +2.7%, revised higher from +1.4%
- For the y/y the change is +4.7%, its highest since January of this year
The light traffic index +1.1%
- previous -1.4%
ANZ comments:
- growth in index modest compared to previous recent years
- ANZ think the economy is perhaps beginning to tire, headwinds are strengthening
mmmm …. NZD is little altered - this data point is a good one for indications on the economy but it doesn't tend to move the forex much at all upon release.
