NZ: Immigration continues to trend lower - ANZ
|Analysts at ANZ note that the New Zealand’s permanent and long-term net migration inflows fell by 350 in September to 4,640 (seasonally adjusted), with 80% of the fall driven by lower arrivals and 20% by higher departures.
Key Quotes
“At 62,700, annual net inflows are now down 13.4% since the cycle peaked in July 2017.”
“Monthly arrivals fell by 280 to 10,490 (sa), driven by a 300 drop in non-New Zealand and non-Australian arrivals.”
“Short-term visitor arrivals fell 1.9% m/m (sa), but that was on the back of last month’s 2.8% rise. Overall, visitor arrivals remain buoyed at a high level, boosted by holiday makers which account for almost 65% of total short-term arrivals.”
“Net migration inflows are evolving broadly as expected, with departures trending higher owing to the natural cycling out of previous arrivals (those who are here on temporary visas) and New Zealanders answering the call of a strengthening Australian labour market.”
“Arrivals should remain relatively buoyed, but could come off at a faster pace if soft employment intentions from own ANZ Business Outlook Survey are acted upon.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.