New migration numbers may be painting a bleak picture of our economy. 

New Zealand saw it's highest net migration loss to Australia in the year to December in more than a decade - with 30 thousand leaving.

Overall net migration for the May 2025 year levelled out at a gain of just under 15 thousand. 

But ASB Senior Economist Mark Smith told Andrew Dickens net migration is normally about a 30 thousand person inflow. 

He says over the past few years, there's been a sharp slowdown in the number of people coming in, and we've also seen record numbers leaving - which reflects the weakness in the economy. 

LISTEN ABOVE

New migration numbers may be painting a bleak picture of our economy.&nbsp;
New Zealand saw it's highest net migration loss to Australia in the year to December in more than a decade - with 30 thousand leaving.
Overall net migration for the May 2025 year levelled out at a gain of just under 15 thousand.&nbsp;
But ASB Senior Economist Mark Smith told Andrew Dickens net migration is normally about a 30 thousand person inflow.&nbsp;
He says over the past few years, there's been a sharp slowdown in the number of people coming in, and we've also seen record numbers leaving - which reflects the weakness in the economy.&nbsp;
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Mark Smith: ASB Senior Economist on new migration numbers

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d50fa4f0-0447-4e1c-9288-b316012c8965/transcript