ANZ Truckometer (Heavy) for July -0.3%
– prior +2.0% revised from +1.6%
– it has now receded six months out of the last seven; a clear slowdown is apparent
– ANZ comment that "The Heavy Traffic Index suggests a weak GDP growth outturn in Q2, and a fairly flat July is not a great start to Q3. The Light Traffic Index is more upbeat about near-term growth but is now also losing steam
On the ANZ
Light traffic index (The ANZ Light Traffic Index leads GDP by six months)