Keep on Truckin'

 I'm what some call a 'qual', relying on qualitative methodologies, but I do love a good spreadsheet.

Here's the ANZ's 'Truckometer', a simply metric that basically counts trucks, heavt trucks in the graph below. Simple and instinctual no? 

What we see is traffice tracking down wehich is a lead indicator for GDP.

Heavy traffic data (mostly trucks) tends to provide a good steer on production GDP in real time, as it captures both goods production (including agriculture) and freight associated with both wholesale and retail trade. The heavy traffic index slumped markedly in June, with the 5.2% fall unprecedented outside of lockdowns.

Hard rain's gonna fall...