Business Report: New UH forecast for this year's Hawaii economy - Hawaii News Now - KGMB and KHNL

Business Report: New UH forecast for this year's Hawaii economy

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HONOLULU (HawaiiNewsNow) -

Economists are always pressured for highly-specific predictions, a difficult task. But here are some of the key numbers in the new report from UHERO. They think there will be 1.9% more arrivals this year, the smallest percentage increase in years. They think there will be 1.9% more Japanese visitors, the BEST percentage increase in years. That's helpful because other foreign arrivals, like Australia and Canada, are trending down a little. Unemployment is lower than last year and local payrolls are forecast to grow 1%. Personal income should grow 1.6%, but inflation 2.6%. That's still moderate but it means inflation is growing faster than wages for many people.

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