Migration data's pointing toward another potential Official Cash Rate cut

New Stats NZ figures show New Zealand had an annual net migration gain of nearly 54-thousand people in the year to August - against 110-thousand people the year before.

81-thousand Kiwis headed overseas - driving a record 134-thousand departures.

ASB economist Kim Mundy says these flow-on effects warrant another 50-basis point OCR cut in November.

She says with net migration numbers coming down like this, it's less demand for consumer goods and housing.