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Hawaii Economic Forecast Update:
Growth On Track, But Oil Risks Real

Posted September 1, 2005 | Categories: Forecasts, Hawaii's Economy

There was some slowing of visitor arrivals growth in the second quarter, but the industry remains buoyant. Residential construction and allied sectors are seeing exceptional job and income gains. Aggregate real (inflationadjusted) income growth continues to surprise, leading us to upgrade once again our income forecast for 2005. At the same time, we may now be seeing early signs of the gradual slowing that we expect to occur over the next several years. Inflation in Hawai‘i has probably not yet peaked, and the continuing surge in energy prices raises the risk of a more pronounced slowdown for the local economy.

forecast Summary

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