German Truck Toll Mileage Index as Proxy for Industrial Production

The current unprecedented global situation has created an increasing need for high frequency data that can point towards likely consequences for different segments of the economy.

Our coverage of high frequency data is continuously increasing, and one daily series we’ve recently added is the German truck toll mileage index. The use of proxies can have an important role in approximating other observable or unobservable variables, and the relationship between truck toll mileage and industrial production has been pointed out in various publications, including the German Federal statistical office.

In the chart below, we applied a year over year percentage change and a one month moving average on the truck toll mileage index and industrial production in order to visually compare the movement of the two series. We’ve also calculated the correlation coefficient resulting in a value of 0.874. The drop in truck toll mileage in recent weeks may be a good indicator of what we can expect from the next industrial production release.

Macrobond Moment: With our platform, you can quickly test correlations between different variables and other statistical measures which then can be used in producing advanced econometric models. If you don’t already have it, you’re welcome to try it for free.

Additionally, we plotted the truck toll mileage index with various types of produced goods on several scatter charts. We added a line of best fit, using Macrobond’s built-in regression analysis, as well as the R² value and the linear regression equation for each chart.

Below you’ll find a list of all the data that we’ve added to the Macrobond database in the past few weeks.

Data Additions by Country / Region

World

OECD
Health Statistics