Monthly migration gain at six year-high
2:00PM Monday Jun 22, 2009

More people are moving to New Zealand than are shifting away, latest statistics reveal.

New Zealand's population gain through migration reached a seasonally adjusted six-year high in May.

Statistics New Zealand (SNZ) today said that on the adjusted basis, permanent and long term (PLT) arrivals exceeded departures by 2700 last month.

That was up from 2200 in April and 1700 in March, and the highest since July 2003, SNZ said.

Goldman Sachs JBWere New Zealand strategist Bernard Doyle said net migration was a key driver of the 2003-2007 economic upswing, and was particularly important to the construction sector.

"Accordingly the longer net migration persists around these levels, the more optimistic we become on prospects for the domestic economy."

SNZ said PLT departures fell by 2100 in May, including 1500 fewer departures to Australia and 500 fewer to Britain. PLT arrivals decreased by 100 from a year earlier.

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