Hawaii economic report ‘pessimistic’; recession expected in 2023
By GRANT PHILLIPS Hawaii Tribune-Herald | Friday, September 23, 2022, 12:05 a.m.
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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.