NZ Truckometer: Hitting the speed limits - ANZ

Sharon Zollner, Senior Economist at ANZ, views that the ANZ Heavy Traffic Index for NZ rose 4% in November, more than recovering falls in the previous two months.

Key Quotes

“The index continues to trend upward. The Light Traffic Index rose 1.7%, recovering much of its October fall.”

“It is notable that the Heavy Traffic Index is trucking along, albeit with volatility, but the upward trend in the Light Traffic Index, which leads the economy by six months, has flattened out.”

“Firms report that the availability of labour is restraining growth, and credit is also becoming a constraint. Given the economy’s speed limits, it would not be at all surprising or concerning to see growth moderate over the next six months.”