The state’s latest economic forecast calls for the recession to continue through this year, with a decline occurring in the state domestic product and the number of jobs available.

The forecast blames the downturn on continue economic problems on the Mainland and internationally. It expects state domestic product will shrink 1.6 percent adjusted for inflation, while the number of jobs will decline by 2.1 percent.
The report also forecasts a 7.9 percent plunge in visitor expenditures this year and for personal income to drop by 1.1 percent when inflation is factored in.
“We are hopeful the situation will improve late this year, but recovery is likely to be a gradual process,” said Ted Liu, state Department of Business, Economic Development and Tourism director.