NZ economy changes down a gear: Truckometer

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

Relevant offers

Industries

NZ Musician publishes its last magazine, moves online after 29 years Fuji Xerox monitored by Government procurement agency, SFO will consider any new information Internet out for the day in parts of the Waikato Last cruise ship to leave New Zealand waters after bumper season MetService adverts too annoying, smartphone users complain 2degrees owner seeks to cut interest bill EV road trip heads slowly up NZ, stopping at fast chargers Invercargill-based online plant nursery making its mark Food labels may be designed to fool Venture capitalists could be 'crowded out' by Crown company, says industry body

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