August 27, 2009 - Governor's Weekly Radio Address – Gradual Economic Recovery

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Aloha,

The State's latest quarterly economic report predicts Hawai`i's economy will continue to be impacted by the national recession, and that our state's economic recovery will be gradual.

Our Department of Business, Economic Development and Tourism has adjusted its economic outlook, and expects smaller declines in real gross domestic project and job count this year than previously projected. Still, economic challenges will persist through the end of the year, especially as visitor expenditures continue to decline.

State economists predict our economy will stabilize in 2010, see modest economic growth in 2011 and continued gradual recovery in 2012, as national and international economic conditions improve.

My Administration is continuing to implement immediate action steps to stimulate the economy and create jobs, while building a strong foundation for Hawai`i's long-term economic future.

Mahalo. This is Governor Linda Lingle.