Posted at 3:40 p.m., Wednesday, January 19, 2005
Tourism driving state's growth, Fed says
Advertiser Staff
The Federal Reserve Board today singled out Hawai'i's booming visitor industry as a major contributor to economic growth in the state."In particular, the number of Japanese visitors to Hawai'i have returned to pre-September 11 levels, boosting activity there," the Fed said in it's "Beige Book" report on economic conditions across the country over the past six weeks.
The Fed also noted that sales of new and existing homes and home-price appreciation "remained solid" in Hawai'i.
The Beige Book, which includes regional economic summaries from the 12 Federal Reserve banks around the country, is used by the central bank to help set interest rate policy.
