Recovery Starting: Local Economist

Aloha Kakou:

Paul Brewbaker, the chairman of the State Council of Revenue, said in an address Friday that actual economic growth should begin with the start of Hawaii's fiscal year, July 1.

"You know when you stopped seeing people at Macy's and would (instead) see them at Ross? Well, they're back at Macy's," Brewbaker said.

With financial forecasts calling for a 3% increase in economic growth through 2011, more air seats to Maui to replace those lost by ATA and Aloha Airlines, and a slight increase in General Excise Tax collections, the economy could be headed for a gradual turnaround.

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