The gain in population from migration declined in October as the number of people leaving permanently or on a long term basis (PLT) rose to the highest level since January 2009.The seasonally adjusted net PLT gain was 700 last month, down from 1000 in Sep
The gain in population from migration declined in October as the number of people leaving permanently or on a long term basis (PLT) rose to the highest level since January 2009.
The seasonally adjusted net PLT gain was 700 last month, down from 1000 in September, as seasonally adjusted departures last month were the highest in 21 months at 6600, Statistics New Zealand (SNZ) said today.
Unadjusted arrivals outnumbered departures by 1700 in October, down from 3000 a year earlier. The net outflow of 1900 PLT migrants to Australia was up from 800 in October 2009, but still down from the net outflow of 2700 in October 2008.
For the year to October, the net migration gain was 12,600, compared to 18,600 in the October 2009 year. The net outflow to Australia for the year was 19,200, down from 21,200 in the October 2009 year and from 34,600 in the October 2008 year.
ANZ economists said the external migration data suggested the NZ economy continues to obtain support from population inflows.
"However, with the domestic housing market more sensitive to permanent and long-term (PLT) departures, the strengthening trend in departures are another headwind for the domestic housing market," the bank said in a commentary.
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