Home Economy David Y. Ige | DBEDT News Release: Rising pandemic uncertainty delays Hawai’i’s...

David Y. Ige | DBEDT News Release: Rising pandemic uncertainty delays Hawai’i’s economic growth

0

DBEDT News Release: Rising pandemic uncertainty delays Hawai’i’s economic growth

Posted on Aug 26, 2021 in Latest News, Newsroom

HONOLULU – The Department of Business, Economic Development and Tourism (DBEDT) released its third quarter 2021 Statistical and Economic Report today. DBEDT revised its economic growth projection for 2021 to 2.7 percent, down from the 3.5 percent projected in May this year. The lower projected growth is mainly caused by the rising of uncertainty caused by the surge in Delta variant infections and the higher inflation expectations.

Major factors of concerns include the following:

  • New COVID-19 cases surged since late July this year. As of the week ending August 25, 2021, the average seven-day daily new infections were 49.2 cases per 100,000 population in Hawai‘i and ranked the 17th highest among all the states. The U.S. 7-day average daily new cases were 43.1 cases per 100,000 population. For the entire duration of…

Click here for full article…governor.hawaii.gov