honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Tuesday, November 17, 2009

Economy to stabilize next year, state forecasters say


Advertiser Staff

The state’s economy should stabilize next year, with modest gains in visitor arrivals, personal income and state gross domestic product, according to the latest forecast from the Hawaiçi Department of Business, Economic Development and Tourism.

The projections show visitor arrivals will rise by 2 percent in 2010 after two years of declines, while visitor expenditures will remained unchanged from this year’s levels.
The forecast also projects a 1.5 percent increase in personal income adjusted for inflation and for gross domestic product to climb 1.8 percent after taking out inflation.
On a negative side, the state says it believes total wage and salary jobs will decline for a third straight year, falling by 0.9 percent in 2010.
The forecast also shows a strengthening of the recovery will occur in 2011 and 2012, with bigger gains in visitors, visitor expenditures, personal income and gross domestic product.