ANZ Truckometer indicator looking good

Wednesday 18 Dec 2019

In November, the Light Traffic Index rose 1.2% m/m, busting out of its recent plateau. The Heavy Traffic fell 1.5% m/m, but this follows two strong monthly increases.

Annual growth in both indexes is lifting off low levels. It suggests annual GDP growth is going to continue to be unimpressive for a while yet. But things are looking better in a momentum sense.

Figure 2. ANZ Light Traffic Index and annual GDP growth

Source: ANZ

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