The ANZ Truckometer dipped slightly in September, with the Heavy Truck index falling 1.5%.
The Light Traffic Index was stagnant month-on-month, dipping 0.1%.
“The Heavy Traffic Index has flattened off and suggests GDP growth was weak in quarter three,” the bank says.
“This is consistent with softer construction and housing, key pro-cyclical parts of the economy.
“The good news is that rejuvenated economic drivers are on the horizon, but that horizon is still a way off and there is an election-related uncertainty pothole in the meantime.”
More will be known when GDP data is released near Christmas, it says.
