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Economic Currents

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Global Economic Forecast: Crisis Contagion Spreads Global Recession

Posted November 14, 2008 | Categories: Hawaii's Economy, Economic Forecasts

The unfolding financial crisis will cause the deepest slowdown of global growth in many years. In 2009, the rich world will be in recession, and developing economies will suffer a sharp reduction in growth rates. The anticipated depth and duration of recession in the U.S. and Japan will present additional challenges for Hawai'i's ailing visitor industry and the overall local economy.

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