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

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The department said in its latestt quarterly economic report released Wednesday that itexpectd 1.6 percent decline in the state’s 2009 gross domestic producr and a 2.1 percent decline in the averagr job count for the DBEDT said the forecast for visitor arrivalds is unchanged from the previous forecast — a declin of 5.9 percent for the year. Visitoer expenditures are expected to benegativelh impacted, down 7.9 percent.
“Nationap and international economic conditions continuwe to negativelyaffect Hawaii’s economy and this will likely be the case for most of 2009,” said DBEDT Directore Ted Liu, in a “We are hopeful the situation will improve late this but recovery is likely to be a gradua l process. We expect that the American Recoveruy and Reinvestment Act of 2009 will also have a positiv impact beginning in the latter half of the year and will alloa the state to make investmente in sometransformational changes, especially in the area of Personal income growth has been lowerer to 0.1 percent for 2009, and after adjusting for real personal income is projecte to decrease 1.
1 percent. The economy is expected to stabilize in 2010 witha modest, 1.2 percent growth in visitor arrivalse and flat real personal income and real GDP. DBEDTT said it expects modest growthnin Hawaii’s economy in 2011, with a 4.3 percent increasw in visitor arrivals and spending up 7.4 Real personal income is expected to increase 1 percentt and real GDP by 0.9 percent in 2011. The state’sa job count could see a 0.5 percent increase.