Hawaii economists: Growth forecast less optimistic

Hawaii economists predict 2013-2014 growth at slightly lower rate than previous forecast

Associated Press

HONOLULU (AP) -- State economists say Hawaii's economy will likely grow faster than the national average, but not as quickly as previously predicted for 2013 and 2014.

The state Department of Business, Economic Development and Tourism said Friday that Hawaii's real gross domestic product is projected to grow 2.4 percent in 2013 and 2.3 percent in 2014. Both projections are 0.2 percentage points lower than the department's previous forecast in February.

The department says in its second-quarter forecast that it's slightly less optimistic than before about job growth and tourism.

But Director Richard Lim says Hawaii is still poised for steady, positive growth.

The consensus forecast for the United States projects 2.1 percent in economic growth in 2013.

State economists say Hawaii depends significantly on the national economy and international economies, including Japan.

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