The ANZ Truckometer heavy traffic index fell 2.1% month-on-month in March while the light traffic index was up 0.1% for the period.
On a year-on-year basis, heavy traffic is up 2.3% and light traffic is down 0.4%.
“Light traffic typically provides a six-month lead on momentum in the economy. The trend in light traffic is mildly upward,” ANZ chief economist Sharon Zollner says.
“In per capita terms light traffic has flattened out after a sharp drop, like GDP.
“The heavy traffic (mostly trucks) index per capita has bounced back after a sharp fall in the middle of last year,” she says.
