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New Zealand's Light Traffic Index Comes in Lower in June, ANZ Research Says

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The Light Traffic Index in New Zealand in June fell 0.5% sequentially and 0.4% year over year due to higher fuel prices, ANZ Research said in a report on Thursday.

According to ANZ's Truckometer index, light traffic, including motorbikes, cars, and vans, is generally a good indicator of the state of demand, as opposed to production and it has been noticeably lower in recent months.

Meanwhile, the Heavy Traffic Index rose 1.8% on a monthly basis and climbed 1.3% year over year, ANZ said.

Heavy traffic data's upward trajectory is intact, ANZ said. It tends to provide a steer on production gross domestic product in real time.

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