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The State of Hawaiʻi revised its 2023 growth projections upward to 1.9%, but lowered its 2024 projections to 1.3% due to the projected global slowdown and recovery from the Maui wildfires. ....
The State of Hawaiʻi revised its 2023 growth projections upward to 1.9%, but lowered its 2024 projections to 1.3% due to the projected global slowdown and recovery from the Maui wildfires. ....
“The indicators screamed we were headed for a recession, but nothing happened,” Arizona economic expert Elliott Pollack said at a forecast on Friday. ....
A total of 88 transpacific flights were canceled in August, representing 23,083 air seats. The passenger count to Kahului Airport decreased by more than 70% after the wildfires from 7,000 a day to 2,000 a day. The loss from business closures and visitor expenditures is estimated to be $11 million a day on Maui since Aug. 9, 2023. ....
Department officials say many economists believe that the US economy will experience a recession during the second half of 2023. However, the Hawai‘i economy has not recovered from the recession caused by the COVID-19 pandemic. ....