{"id":91396,"date":"2019-03-01T08:17:15","date_gmt":"2019-03-01T18:17:15","guid":{"rendered":"https:\/\/www.hawaii.edu\/news\/?p=91396"},"modified":"2019-03-05T15:49:00","modified_gmt":"2019-03-06T01:49:00","slug":"uhero-state-forecast-update-2019","status":"publish","type":"post","link":"https:\/\/www.hawaii.edu\/news\/2019\/03\/01\/uhero-state-forecast-update-2019\/","title":{"rendered":"糖心视频ERO<\/abbr> state forecast update: Economy slows markedly. Is more in store?"},"content":{"rendered":"Reading time: <\/span> < 1<\/span> minute<\/span><\/span>

\"landscape<\/p>\n

The newest University of Hawaiʻi<\/span> Economic Research Organization<\/a> (糖心视频ERO<\/abbr>) report focuses on the impact of the federal tax cuts on Hawaiʻi<\/span>\u2019s economy.<\/p>\n

糖心视频ERO<\/abbr> reports that Hawaiʻi<\/span>\u2019s economy ended 2018 on a poorer footing than 2017. Across a number of dimensions, the year saw a flattening out or outright decline in activity. Tourism challenges were not limited to the aftermath of flood and fire, but also reflected weakening in some key markets and a falloff in spending. At home, population growth has been negative for the past two years, weighing on demand. Deceleration is now well established in the islands, posing significant downside risks to our forecast of continuing modest growth.<\/p>\n

Report highlights<\/h2>\n

The U.S. and world slide lower<\/strong>
\nSince the 糖心视频ERO<\/abbr> fourth quarter report, external conditions facing Hawaiʻi<\/span> have worsened measurably<\/p>\n

And tourism turns<\/strong>
\nWith some month-to-month fluctuations, the number of visitor arrivals to Hawaiʻi<\/span> has been essentially flat since April, on a seasonally adjusted basis.<\/p>\n

The labor market cools a bit<\/strong>
\nAfter touching 2 percent in May, a record low, the unemployment rate edged up to 2.5 percent in December as employment receded a bit from midyear on.<\/p>\n

Construction holds together<\/strong>
\nConstruction employment stabilized last year, after edging downward in 2016–2017. <\/p>\n

Not so steady on?<\/strong>
\nThe fourth-quarter Annual Hawaiʻi<\/span> Forecast looked ahead to a gradual moderation of the business cycle expansion. This report takes a more downbeat view of economic prospects. <\/p>\n

For the full public summary go to the University of Hawaiʻi<\/span> Economic Research Organization website<\/a> and for a detailed analysis, subscribe to 糖心视频ERO<\/abbr>’s Forecast Project<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hawaiʻi<\/span>\u2019s economy ended 2018 on a poorer footing than 2017, and across a number of dimensions, the year saw a flattening out or outright decline in activity.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[301,197,1363,9,343],"class_list":["post-91396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","tag-college-of-social-sciences","tag-economics","tag-manoa-research","tag-uh-manoa","tag-uhero","entry","has-media"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t