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<p>The ANZ Truckometer is a set of two economic indicators derived using traffic volume data from around New Zealand.ANZ use traffic flows in this indicator as a proxy for economic growth.</p><p>From the current report:</p><ul><li>The Light Traffic Index +1.9% in September</li><li>Heavy Traffic Index -3.3%</li><li>for the Heavy Traffic Index lifted 1.6% over the quarter</li></ul><p>ANZ comments:</p><ul><li>Demand has so far proven relatively resilient to uncertainty, rising interest rates and falling house prices. While retail activity is definitely down, it hasn't fallen off a cliff. The RBNZ noted last week when raising the OCR another 50bp that they would have expected a more marked slowdown in demand by now. </li><li>The Heavy Traffic Index (HTI) tends to provide a better steer on production GDP. Up 1.6% q/q in Q3, this suggests the economy continued to expand at a solid pace, pointing to some upside risk to our Q3 GDP forecast of 0.4% q/q. </li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.