NZ data - ANZ Truckometer for July, Heavy Traffic index: +2.7% m/m (prior +14.5%)

ANZ's New Zealand traffic survey used as a proxy for economic growth.

Truckometer for July,

• Heavy Traffic index: +2.7% m/m (prior +15.3%, revised up from 14.5%)
• Light traffic index +5.6% m/m

ANZ comments:

• NZ is back in business
• a slight overhsoot after the lockdown drop
• gain is encouraging, too early to determine a trend, 'may give up its overshoot in coming months'
• the data highlights how lightly NZ has gotten off in terms of disruption to everyday life for most people