Posted at 1:20 p.m., Wednesday, March 9, 2005
Federal Reserve upbeat on Hawai'i's economy
Advertiser Staff
A Federal Reserve report on the condition of the nation's economy cited Hawai'i's job market and tourism industry as two areas that are enjoying exceptionally strong growth.While most states in the Western region reported little change in labor market conditions over the past six weeks, the exception was "many sectors of the Hawaiian economy, which has been expanding at an unusually rapid pace of late," the Fed said in the report.
The report also noted that domestic visitor arrivals in Hawai'i "continued at record highs."
The Fed's assessment of the overall U.S. economy was upbeat. The employment climate improved, stores rang up sales and factories boosted production last month, fresh signs the economy is chugging ahead at a respectable pace, the Fed said.
