Economist looks to 2011 for sustained recovery
HONOLULU — Economist Leroy Laney says he sees no reason to revise his projection that Hawaii's economy will experience sustained recovery next year.
The economic adviser to First Hawaiian Bank told the bank's 41st annual Business Outlook Forum on Thursday that led by tourism's resilience, a slow recovery is emerging for Hawaii.
Laney said that for the last couple of years, he's been saying 2010 would be a year of stabilization in the Hawaii economy, but it will likely be 2011 before sustained recovery sets in.
He says that projection has been borne out so far, so has no reason to revise it now.
Laney says Hawaii experienced an "L-shaped recession," with a rapid decline, and a more protracted recovery still ahead.
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