Migration in flows still strong

Net migration remained strong in April and the net 4740 gain was just shy of the average of the preceding six months of 4920.

In the past six months, migration inflows and outflows had been very stable.

ASB economist Chris Tennent-Brown said strong net migration inflows were helping support robust levels of consumption and also helping keep a lid on wage inflation.

Those dynamics had been at play for a while and were part of the ASB forecasts and those of the Reserve Bank.

''Accordingly, there are no fresh implications for the outlook for the economy or monetary policy from the data.''

In April, there were 9590 arrivals and 4850 departures.

A key figure within the migration figures in recent years had been the steady decline in the net loss of people in Australia.

In the 12 months to April, the net loss of 1900 people moving across the Tasman was the smallest annual loss since 1992.

At the same time, the net inflow from the rest of the world for the year was a record high of 58,728, Mr Tennent-Brown said.

On an annual basis, each month of such strong inflows was pushing the annual migration inflow figure to a fresh record high.

Migration inflows of 56,813 for the year ended April included 50,662 working-age migrants.

Within the annual permanent and long-term migrant arrivals, 22% were on student visas (17% a year ago) and New Zealand and Australian citizens made up 30% of migration arrivals.

Seasonally adjusted monthly inflows were a fraction below the peak recorded in January and outflows had lifted from the recent low recorded in the same month, he said.

But the changes were not enough to think patterns were changing yet.

''The attractiveness of the New Zealand labour market relative to Australia and the rest of the world has been, and will continue to be, a key influence.''

In addition, strong student inflows continued to boost net immigration figures, he said.

It was hard to see those positive drivers changing in the near term and migration inflows were likely to remain around current levels in coming months.

Net monthly migration inflows would remain at current levels for at least the next six months.

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