The ANZ Truckometer shows a mixed picture in March, with heavy traffic volumes rising slightly while light traffic declined, potentially reflecting the impact of higher fuel prices on household activity.
The heavy traffic index (HTI), which includes trucks and buses, increased 0.4% for the month and is up 2.3% year-on-year.
Heavy traffic is closely linked to production activity and provides a real-time indicator of GDP, capturing freight movements across goods production, wholesale and retail trade, and exports. While typically more volatile, the index continues to trend upward, suggesting underlying production activity remains steady.
Meanwhile, the light traffic index (LTI), covering motorbikes, cars and vans, fell 2.4% in March but remains up 3.6% year-on-year.
“After a strong lift in February, the March decline marks a reversal, although the fall is not unusually large. It may reflect motorists choosing to drive less as fuel prices increased over the month,” ANZ says.
