Saturday, June 22, 2024
Hawai'i Free Press

Current Articles | Archives

Saturday, February 11, 2023
How Fast is Hawaii’s Economy Growing?
By Selected News Articles @ 6:52 PM :: 1535 Views :: Economy, Hawaii Statistics

How Fast Hawaii’s Economy is Growing

by Samuel Stebbins, 24/7 Wall St. via The Center Square, Feb 10, 2023

The U.S. economy expanded at a faster rate than expected in the third quarter of 2022, with real gross domestic product growing at an annualized rate of 3.2%, rebounding from a 0.6% contraction in the previous quarter. The strong third quarter growth came as welcome news in a period of rising pessimism as a December 2022 Bloomberg poll of economists put the odds of a recession in 2023 at 70%, up from 50% in September.

The industries adding the most value to the U.S. economy in the third quarter of 2022 were information, which contributed 0.88 percentage points to real GDP growth; professional, scientific, and technical services, which contributed 0.59 points to growth; and mining - including oil and gas extraction - which contributed 0.5 points.

Not all states reported third quarter GDP growth, however, and among those that did, growth rates varied considerably.

Hawaii's economy grew from $75.1 billion in the second quarter of 2022 to $75.7 billion in the third quarter. The 3.3% annualized expansion rate was the 17th largest of the 47 states to report economic growth.

Over the same time period, unemployment in Hawaii fell from 4.2% at the end of the second quarter to 3.5% at the end of the third.

All GDP figures in this story are chained to 2012 dollars and are from the Bureau of Economic Analysis. Unemployment rates are from June and September and are from the Bureau of Labor Statistics.

read … Full Report

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii