| Hawaii Business The Land of Fruit and Honey - 01/18/2007
Personal income growth accelerated in all regions of the United States during the third quarter of 2005. Hawaii exceeded the national rate. National personal income growth in that quarter was 1.4 percent. Hawaii growth was 1.5 percent, with the largest contributions to added income coming from the hospitality industry and the military. Based on figures released Thursday by the U.S. Bureau of Economic Analysis, Hawaii annual personal income has grown by more than $1 billion since 2002, reaching $40 billion at the end of 2003 and topping $46.9 billion by the end of last summer. The top 10 segments contributing to Hawaii personal income: State and local government: $4.6 billion. Military: $4.2 billion. Accommodation and food services: $3.2 billion. Health care and social assistance: $3 billion. Construction: $2.9 billion. Federal (nonmilitary): $2.8 billion. Retail: $2.5 billion. Professional and technical services: $2.4 billion. Administrative: $1.6 billion. Transportation and warehousing: $1.5 billion. Also Thursday, the U.S. Department of Labor reported that the national consumer price index rose 2.5 percent -- 2.6 percent if food and energy prices are left out. The report did not include state-by-state breakdowns, but nationally the index went to 198 (using 100 as a baseline of 1986) while it was 205 in Los Angeles and 206 in San Francisco. Honolulu prices have been similar in the past.
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