Podcast Appearances
There's always trade-offs in economics.
So we are actually seeing some pretty good news on the economy.
Lots of things have picked up.
We've talked about dwelling consents,
field jobs business confidence you know there's a bunch of other things in there as well which have been picking up lately so that's that's the good side of it you know we want a stronger economy last week we had the performance of services index which was above 50 51.5 50 being the rise fall mark on on this indicator uh first time above 50 in 21 months so um services has had a tough old tough old gig it's you know your hospitality and accommodation and that sort of thing um
So first expansion in nearly two years.
Adds to that other range of economic indicators it's picking up.
Net migration, yep, it's maybe turning around.
It's subject to revisions.
It's the net result of two big numbers.
you know, inwards migration, outwards migration.
It doesn't take much of a swing in those two big numbers to really change the net figure significantly.
So, you know, you always take these figures with a little bit of caution.
But, yep, looks like maybe that net migration cycle is turning around.
We're up to sort of around 10,700 in the past 12 months.
possibly barring you know significant revisions um the the bottom point for that looked to be in august at about 9 000 so we might be we might be slightly past that trough now i mean net migration would be a bit of double-edged sword i guess it's you know it's adding more workers to your labor force that that sort of helps um but then there is sort of extra housing demand so there's you know there's always two sides to it um
And keep in mind, net migration is still pretty low.
The peak was way back at 135,000, something like that.
So it has come down a long way and still below average too.