DBEDT economic report sees Hawaii recovery despite global recession
HONOLULU (HawaiiNewsNow) - The state Department of Business, Economic Development and Tourism released its second quarter report on Hawaii’s economy.
DBEDT chief economist Eugene Tian joined HNN’s Sunrise Weekends to talk about the main takeaways.
He cited tourism and construction as the leading drivers of recovery for the state, noting that Hawaii is expected to perform better than the nation.
Tian said a declining inflation rate. improved labor market conditions and more general excise tax revenue will help offset pressure from a labor shortage, Russia’s continued war in Ukraine and high interest rates and mortgage rates.
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