New Zealand Immigration Decline May Impede Economic Recovery
New Zealand immigration fell to a two-and-a-half year low in April, adding to risks of a slower-than-expected economic recovery that could prompt more interest-rate cuts.
Annual net immigration dropped to 21,317 from a revised 21,959 in the 12 months through March, Statistics New Zealand said Wednesday in Wellington. The data came just weeks after the Reserve Bank abruptly pivoted to forecast a recovery in immigration this year.
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