Back to Hawaii News index

Posted: Thursday, May 10th, 2012 7:59 AM HST

Hawaii predicts faster economic growth

By 67AM KPUA News

Hawaii is predicting faster economic growth this year and next. The state's business and economic development department said in a report Wednesday Hawaii's economy should expand 2.2 percent this year. That's 0.4 percentage point greater than the department predicted last quarter. Next year, it forecasts Hawaii's economy will grow 2.3 percent — 0.3 percentage point higher than its last prediction. The report says 6.5 percent more tourists are expected to travel to the islands this year than last year — 2.1 percentage points more than previously believed. Visitors are also expected to spend more while they're here. Department Director Richard Lim says officials are confident the state's economy "is moving toward a more normal growth curve."