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Officials ‘optimistic’ for Hawaii’s economy despite US projections | News, Sports, Jobs
A bustling business center in Kihei is seen in September 2021. Hawaii’s economic outlook remains unchanged despite a downturn in projections in the U.S. economy, which forecasters worry could see a recession in early 2023. The Maui News / MATTHEW THAYER photo The likelihood of a recession for the U.S. economy in early 2023 hasn’t dimmed prospects for Hawaii’s economy, which is still buoyed by strong tourism recovery, an improving labor market and rising state tax collections. The state Department of Business, Economic Development and Tourism kept its growth projections for Hawaii steady at 2.6 percent for 2022 and 1.7 percent for 2023, and the department’s director said officials “are…