Traffic levels bouncing back fast

[The figures suggest] normality beckons.

Heavy traffic rebounded sharply last month and, was just 7.8 per cent lower than May 2019, ANZ’s monthly Truckometer Index shows.

The month of May included 13 days of level 3 lockdown and 18 days of level 2.

A further increase in both heavy and light traffic is expected with the move to level 1, said ANZ chief economist Sharon Zollner.

While the heavy traffic figures remain an interesting barometer of economic activity, the unusual nature of the lockdown meant the link between regular car traffic and GDP had probably broken down, Zollner said.

In May the Light Traffic In

Sharon Zollner, chief economist, ANZ

dex recovered more than half of its April fall, although it was still 37 per cent lower than last May for the month as a whole.

But rather than focusing on the monthly data, it was more revealing to look at how traffic changed in the different levels of lockdown, Zollner said.

In alert level 4, weekday heavy traffic was just 47 per cent of what it was a year earlier, while during the weekends, it was 34 per cent.

Those who enjoyed cycling and walking around relatively traffic-free streets during level 4 may also be interested to see that weekday car traffic was 23 per cent of what it was a year earlier and, during weekends, just 13 per cent.

In level 3, heavy traffic stepped up significantly to 81 per cent and 74 per cent of year earlier levels in weekdays and weekends respectively.

Light traffic bounced less under level 3, to 59 per cent and 44 per cent weekdays and weekends.

In level 2, weekday heavy traffic was 100 per cent of a year earlier; and 102 per cent in the weekends, suggesting a degree of catch-up activity. Weekday car traffic was 90 per cent of year-earlier levels, and 92 per cent in the weekends.

The figures suggest “normality beckons”, Zollner said.