The ANZ Truckometer shows the heavy traffic index was up 0.9% in September and is up 1.7% on a year ago, while the light traffic index was up 0.5% for the month and 2.6% year-on-year.
“The trend in light traffic has picked up, including per capita estimates,” ANZ chief economist Sharon Zollner says.
“Indeed, September brought the strongest quarterly increase since September 2023 as well as the strongest annual lift since early 2024. Traffic data can be volatile, so we’ll have to see if it’s sustained, but it’s a welcome sign.
“Heavy traffic data (mostly trucks, but also buses) tends to provide a steer on production GDP in real time.
“Unlike light traffic, the HTI has lost a bit of momentum lately, despite the lift in September. However, the index is still up 1.7% versus a year ago,” Zollner says.
