7 Jun 2016

Uncertainty ahead for NZ economy - ANZ economist

6:49 pm on 7 June 2016

Economic growth may hit a bit of a pot hole in the second quarter if truck movements are anything to go by.

The ANZ Bank's Truckometer index gives an immediate and forward-looking indicator about the economy.

The heavy traffic index dipped a seasonally adjusted 1.7 percent last month, after a bigger fall in April, while the light traffic index - which leads the economy by six months - fell 1.3 percent.

ANZ senior economist Sharon Zollner said there's some uncertainty ahead for the New Zealand economy.

"If you take it at face-value, the fall in April and May is not a great start to Q2 - which is of course the three months April, May and June...we may well see a big bounce-back in the June month which would save the quarter," she said.