The number of people leaving for Australia has risen again, taking the annual exodus to the highest point in more than a decade.
Official figures show the net loss of migrants rose to 650 in January 2012, from 530 in December 2011.
For the year to January 2012, 3000 people left permanently or long term, the largest net loss since August 2001.
The net loss of 38,000 people to Australia for the year is the highest on record.
But, ASB chief economist, Nick Tuffley says there are signs the exodus to Australia is tapering off.
He says when Australian job prospects are better than in New Zealand there is a marked pick up in the outflow of people to to Australia however he says that flow is now starting to reduce.