UHERO State Forecast Update: Hawaii Economy In Need of An Engine

Honolulu Skyline (Photo courtesy of UHERO)
Honolulu Skyline (Photo courtesy of UHERO)
Honolulu Skyline (Photo courtesy of UHERO)

Prospects for Hawaii growth remain muted. Despite a pickup over the summer, visitor arrivals have been soft this year, and the period of robust visitor spending increases is behind us. A mixed global economic environment and limited visitor industry capacity will keep a lid on future gains. While the construction expansion continues, it does so at a slower pace than anticipated and has created few new jobs in 2014. The building trades nevertheless remain the most likely drivers of expansion over the next several years.

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