The ANZ Truckometer light traffic index rose 1.9% month-on-month in February, while the heavy traffic index was up 2.4% for the period.
The heavy traffic index is 2.8% higher than a year ago.
ANZ chief economist Sharon Zollner points out while both indices had a mild upward trend, in per capita terms they are both trending down.
“Despite another monthly lift, the trend in light traffic remains fairly flat.
“Given current strong population growth, in per capita terms the index is trending lower.
“That is consistent with the trend observed in per capita GDP.
“Heavy traffic data tends to provide a good steer on production GDP in real time, as it captures both goods production and freight associated with both wholesale and retail trade,” Zollner says.
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