When it comes to predicting the fortunes of the Australian economy, don't ask a highly-trained economist, ask one of our neighbours.

New Zealand's Deputy Prime Minister and Finance Minister Bill English says the net movement of his countrymen and women across the ditch has proved a great indicator of our relative economic fortunes.

Forget asking an Australian economist about what the future holds, says New Zealand Deputy Prime Minister Bill English. Credit:Louie Douvis

"New Zealanders looking for opportunity have a better grip of this economy than Australian economists," he told Citi's annual investment conference in Sydney on Thursday

New Zealand is experiencing record high net migration and population growth, largely the result of New Zealanders choosing not to seek work in Australia.