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The Honolulu Advertiser
Updated at 6:27 p.m., Wednesday, September 3, 2008

Hawaii revenue forecast remains at 1% growth

The state Council on Revenues today unanimously voted to make no changes to its forecast of 1 percent revenue growth for the fiscal year.

In July, the seven-member panel cut its growth forecast from 2 percent to 1 percent partly due to lower visitor arrivals and the twin shutdowns of Aloha Airlines and ATA Airlines. The council said that the economy has shown little change over the past month to require a change in the council's outlook.

"Things haven't changed enough since we last met to warrant a significant change in the forecast," said Paul Brewbaker, chairman of the council.

The council will next meet in January.