ANZ Truckometer - Pedal to the metal!
· The two ANZ Truckometer indexes lifted in November: the Heavy Traffic Index by 1.1% (seasonally adjusted), and the Light Traffic Index by 1.5% m/m (charts are 3-month average).
· The Heavy Traffic Index suggests GDP growth was subdued in Q3, but lifts in October and November are a good start to Q4.
· The economy is at a delicate juncture, but the Light Traffic Index, which provides a forward-looking indicator of momentum in the economy, suggests we’ll push through.
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