Our favorite local economist,Paul Brewbaker, Chief Economist of the Bank Of Hawaii, has released his latest quarterly review of Hawaii Economic Trends. Here are some key findings:

First quarter performance in Hawaii's economy had the feel of a somewhat weaker than expected start to the year, but the forecast for moderated economic growth during the next several years remains intact…a bitof upward drift in the unemployment rate and slowing job growth began to appear in the first quarter…we anticipate the FOMC will unwind 75 basis points of monetary firming policy…tourism is at a capacity limit…Hawaii [housing] valuations are not unreasonable.

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