Net migration to NZ had peaked just above over 72K (for the year in) in July 2017
For January comes in at a net flow of permanent migrants of 6210, a 7 month high
- up from December's 5780 (revised higher from 5700 ... December was the highest monthly gain since the middle of 2017 ... resilience in migration to NZ indeed)
As I posted earlier in the preview:
- Strong net migration numbers are supportive of growth in coming months and years, but can weigh on inflation (more labour, potential weight on wages).
There is usually little immediate FX impact from this data point more for background really.
