Spate of storms batters forecast for state economic growth

Spate of storms batters forecast for state economic growth

Natural disasters in Hawaii this year are contributing to a big drain on the state economy, where growth is now projected to be its weakest since a 2020 contraction due to COVID-19. University of Hawaii researchers forecast that Hawaii’s economy, after factoring inflation, will grow by a scant 0.6% this year, down from 3.3% last year. The difference represents a nearly $1 billion reduction in the value of all goods and services produced in the s…