Migration fall a double-edged sword
5:00AM Saturday May 19, 2007
By Owen Hembry

Falling net migration could take the pressure off housing only to turn the heat up on wages, says the National Bank.

Statistics New Zealand said seasonally adjusted net permanent and long-term migration totalled 140 people in April.

The latest migration rate was down from 630 in March, continuing a weaker trend of 520 and 410 people in February and January respectively.

Net migration numbers had been more than 1000 a month between June and December last year.

National Bank economist Philip Borkin said slowing migration was positive news for the Reserve Bank because it would provide less support for the housing market and consumer spending.

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