Slow, But Steady - KFVE, K5-Hawaii News Now, Local Programming

December 13, 2010

Slow, But Steady

The latest report from the economics folks at the University of Hawaii suggests that the local recovery in business will expand beyond tourism and will be slow and steady throughout 2011. The report also says that the neighbor islands will start to see an upward tick in the months and years ahead.

Industries beyond tourism, such as construction, are starting to see growth, and other sectors should see an upturn as 2011moves into 2012. All in all, while this is good news, it should not come as a surprise. Was anyone really expecting the economy to grow by gigantic leaps? By their very nature, aren't recoveries bound to be slow-moving, much like the monoliths and institutions that they re-direct? Would anyone have projected big growth in the 21st century with so many variables always at play?

The world has gotten so much more complex as it relates to the U.S. economy over the past 50-years. No longer does what we do in Hawaii or throughout the country solely control our monetary future. More so than ever, international forces, both political and economic, have major ramifications for most sectors of our economic sailing. The winds of the rest of the world will determine, to some degree, which direction and how fast our business ship goes here in Hawaii and in the country at large. But any growth signifies improvement, opportunity and hopefully, with that trend, comes renewed consumer confidence as we enter a new year. Think about it…

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