Annual immigration growth falls to seven-year low
By Albert Smith | Sat, 12/27/2008 - 22:14
The annual immigration growth of New Zealand fell to the lowest in more than seven years in November, clearly adding to signs that weak consumer spending and demand for housing may delay the economy’s recovery from a recession.
The annual immigration growth of New Zealand fell to the lowest in more than seven years in November, clearly adding to signs that weak consumer spending and demand for housing may delay the economy’s recovery from a recession.
Statistics New Zealand said in a report that was released yesterday in Wellington that the number of permanent migrant arrivals exceeded departures by 3,569 in the twelve months that ended on the 30th of November. Net arrivals fell from 4,369 in the year to October and this has been the lowest since the year to October 2001.
The agency said that in the month of November, permanent departures exceeded arrivals by 590 people. The agency also said that it is now a matter of concern that departures have exceeded arrivals for three straight months after the net arrivals averaged 500 a month in the eight months till August.
However, tourist and short-term visitor arrivals rose for a second month in November, and this may buoy spending in an industry that makes up about 10 percent of the economy.
Short-term visitor arrivals increased 0.8 percent from October, the agency said. But still, arrivals fell 4.2 percent from a year earlier.
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