NZ: Truckometer Heavy Traffic Index bounced 1.4% m/m in April - ANZ

Sharon Zollner, Chief Economist at ANZ, notes that the ANZ Truckometer Heavy Traffic Index for NZ bounced 1.4% m/m in April, but annual growth continues to slow and is the weakest since late 2015.

Key Quotes

“It may be starting to back up the Light Traffic Index’s earlier prediction of softer GDP growth mid-year.”

“The Light Traffic Index fell 0.5% m/m, continuing its fairly lacklustre performance. This index appears to have flattened off, sending a softer signal for growth from mid-year.”