NZ: ANZ Truckometer indexes fell in September - ANZ

Sandeep Kanihama FXStreet Contributor

The ANZ Truckometer indexes of New Zealand economy fell in September as the Heavy Traffic Index fell 2.6% m/m to be up just 0.4% in the September quarter, while the Light Traffic Index fell 0.7% m/m (+1% q/q), notes the research team at ANZ.

Key Quotes

“We now have complete data for Q3. The monthly fall in the Heavy Traffic Index means the Truckometer is now suggesting the risks around GDP growth in the quarter are skewed towards a weaker outturn.”

“The Light Traffic Index leads GDP growth by six months. It concurs that Q3 growth could be on the low side, but suggests weakness may not persist.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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