Lift in net migration continues for second month
5:30 AM Wednesday Sep 22, 2010

A lift in seasonally adjusted net migration gain noted in July continued into last month, as the number of migrants arriving recovered in the latest two months, while departures were little changed.

Figures from Statistics New Zealand (SNZ) yesterday show a seasonally adjusted net permanent and long term migration gain of 840 in August, just below the revised figure of 890 in July.

The series had fallen from 1800 in January to 200 in June, before the rebound in July and August, with arrivals reaching 6950 last month, while departures had been constant since May at about 6100.

ANZ Bank said the economy was continuing to receive support from net immigration, but the risk, with the Australian economy running hot, was that would quickly wane.

The impact of a moderation in net immigration may already have been felt given the soggy state of the housing market and cautious retail spending.

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