Satish Ranchhod, senior economist at Westpac, points out that the New Zealand economy saw a second massive net migration result in January, with an estimated net inflow of 6,300 people over the month.
“On top of that the previous month was revised up from 5,080 to 6,800. Those are some of the strongest figures we’ve seen in at least 18 years. However, these figures need to be taken with a large grain of salt.”
“Today’s data and the related revisions leave the annual inflow of people into the country running at 58,000. That implies a significant and sudden change in direction in net migration over the past two months.”
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.