ANZ NZ Truckometer - Back on the up
BACK ON THE UP
· The ANZ Truckometer indexes parted company in October: the Heavy Traffic Index lifted 2.9% (seasonally adjusted), while the Light Traffic Index fell 0.6% m/m (charts are 3-month average).
· The Heavy Traffic Index suggests GDP growth was weak in Q3, but the lift in October suggests a better start to Q4.
· The Light Traffic Index has dipped for the last couple of months but still has a strong upward trend. It suggestssolid momentum in the economy that will hopefully prove sufficient to carry the economy through some post-election uncertainty as some different economic priorities are reflected in Government policy.