9 Jun 2015

Traffic volume points to slower economy

2:07 pm on 9 June 2015

The latest traffic report has indicated tougher times ahead for the economy.

ANZ Bank's Truckometer measures the traffic flow on certain roads to provide a snapshot of how the economy is doing, in terms of production and momentum.

The heavy traffic index, which paints a more immediate picture of the economy's health, fell a seasonally-adjusted 1.1 percent in May, while the light traffic index, which gives a six-month lead on the economy, dropped 0.6 percent.

ANZ senior economist, Sharon Zollner, said lower rural incomes, a lull in Christchurch's rebuilding and a still-high dollar were weighing on economic growth.