Hawaii economic report ‘pessimistic’; recession expected in 2023

  • A family uses an interactive sign at the Hawaii Volcanoes National Park visitors center on Aug. 29. (Kelsey Walling/Hawaii Tribune-Herald)

  • Families take turns walking into Nahuku, or the Thurston Lava Tube, last month in Hawaii Volcanoes National Park. Robust spending by North American visitors has partly offset the near-absence of traditionally high-spending Japanese visitors, according to a University of Hawaii report about the state’s economy. (Kelsey Walling/Hawaii Tribune-Herald)

Both the U.S. and Hawaii are headed toward a mild recession, according to a new report released today by the Economic Research Organization at the University of Hawaii.