ANZ NZ Truckometer - Mixed messages
· The ANZ Truckometer Heavy Traffic Index fell 0.3% m/m in March, to be down 0.7% for the quarter (charts are 3-month average).This isn’t astrong signal for GDP growth, but the index has been volatile lately. With anecdote suggesting a decent quarter, we will wait for more pieces of the GDP puzzle before drawing any conclusions.
· On the other hand, the Light Traffic Index bounced 2.2% m/m, after a few months of fairly lacklustre performance. This index is giving a softer signal for growth from mid-year, but the bounce-back is encouraging.Go here to see more.