The ANZ Truckometer light traffic index lifted 1.5% month-on-month in July while the heavy traffic index recovered from much of its June fall, rising 6.1%.
“The trend in light traffic remains flat, matching overall economic activity as measured by GDP, but the trend remains firmly downward in per capita terms,” ANZ chief economist Sharon Zollner says.
“Light traffic typically provides a six-month lead on momentum in the economy – variation in it reflects discretionary spending on outings, movement of couriers and tradespeople.
“Heavy traffic index bounced in July after an exceptionally sharp fall in June.
“The overall signal regarding economic activity remains weak, but the rebound suggests some of the dramatic fall in June was likely due to short-term factors like weather or roadworks,” Zollner says.
