Truckometer - An oasis of (near) normality
Posted: 15-Jul-2020 |
Most of us have one eye on business while the other is on the economy, here is the latest report from the ANZ Truckometer.
The report says that the Light Traffic Index lifted 28% in June and the Heavy Traffic rose 14.5%. It says that overall traffic is nearly back to year-ago levels. However, Light traffic on the weekend remains the weakest type of travel compared to a year ago, despite calls to embark on domestic tourist adventures.
The two ANZ Truckometer indexes usually reflect economic activity. However, the lockdown will have broken the link between light traffic and GDP in particular.
The month of June included 8 days of Level 2 lockdown and 22 days of Level 1. In June the Light Traffic Index lifted a further 28%, while the Heavy Traffic Index recovered 14.5%. But rather than focusing on monthly changes, the report suggests that it is most interesting at present to look at how traffic has changed in the different levels of lockdown.
The different traffic types have taken different routes depending on how "essential" they are, but all have now converged back to just slightly under year-ago levels.
Relative to the impact of lockdown, current differences look negligible, but they matter. Light traffic in the weekend is the most discretionary type of travel – it is the lowest compared to a year ago.
The finalises by saying that after adjusting for seasonality, traffic flows rose on all of the 11 roads in the Heavy Traffic Index in June, and also on all of the 10 roads in the Light Traffic Index