DBEDT expects recession to affect Hawaii through 2009 - Pacific Business News (Honolulu):

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The department said in its latesyt quarterly economic report released Wednesday that itexpects 1.6 percent decline in the state’s 2009 grosw domestic product and a 2.1 percent declinde in the average job count for the year. DBEDT said the forecasg for visitor arrivals is unchanged from the previousforecast — a decline of 5.9 percent for the Visitor expenditures are expected to be negatively down 7.9 percent.
“National and international economic conditions continue to negativelyyaffect Hawaii’s economy and this will likely be the case for most of 2009,” said DBEDT Director Ted Liu, in a “We are hopeful the situation will improve late this but recovery is likely to be a graduakl process. We expect that the American Recovery and Reinvestment Act of 2009 will also have a positivde impact beginning in the lattert half of the year and will allows the state to make investments in sometransformationapl changes, especially in the area of Personal income growth has been lowereds to 0.
1 percent for 2009, and afte adjusting for inflation, real personaol income is projected to decrease 1.1 percent. The economyu is expected to stabiliz e in 2010 witha 1.2 percent growth in visitor arrivals and flat real persona l income and real GDP. DBEDT said it expects modesf growthin Hawaii’s economy in with a 4.3 percent increase in visitor arrivals and spending up 7.4 percent. Real personal incom is expected to increass 1 percent and real GDPby 0.9 percent in 2011. The state’xs job count could see a 0.5 perceng increase.