NZ economy changes down a gear: Truckometer

JAMES WEIR
Last updated 10:54 12/08/2014

Relevant offers

Industries

Stadium demolition option only for 'lunatics' Keep Kiwi goods coming, says Xi Eastgate seen as community 'focal point' Market dramas as giant arrives on internet TV scene Helipro boss back in cockpit Directors defend not filing What's the policy on petrol station drive-offs? Angry customers call for petrol station boycott Fourth delay for Mega float Apple Fields wind up would be 'irresponsible'

The foot may be coming off the accelerator, but there is no sign the economy is going into a "panicked skid" according to ANZ's latest report on traffic flows.

The bank's "Truckometer" index, measuring truck and lighter traffic flows, is seen as a timely measure of economic activity.

In July, the heavy-traffic index rebounded 2.6 per cent, after falling in the two previous months.

The latest result was a "good start" for the September quarter.

The heavy traffic index suggested economic growth of about 0.6 per cent in the June quarter, which was respectable, but down from the 1 per cent or better seen in the past three quarters.

ANZ, looking at a wider range of indicators, forecast June quarter growth of 0.7 per cent.

The light-traffic index was flat in July, after falling in 0.8 per cent in June. Light traffic is seen as a leading indicator for economic growth.

While economic growth in the June quarter may have slowed, the signs for the rest of the year "remain very robust", ANZ said.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content