Record reached
p. 26 · Read in the full issue
Construction activity in
Hawaii reached record levels dur ing 1989, according to a new re port from the Bank of Hawaii. The total value of private construction permits was US$l.9 billion, an increase of 20.1 per cent over 1988. Construction completed was up 26.3 per cent to US$3.2 billion.
And the bank said the higher figures were largely the result of real increases in output rather than just higher costs.
Jobs in the sector went up by 6000, in
dicating that the efforts to achieve very large production increase were the cause for such aggressive hiring with virtually no available labour supply.
The bank said the “phenomenal” strength of Hawaii’s construction boom has exceeded its economic department’s expectations each year since 1985.
“Construction activity in the state has now surpassed all previous peaks in the construction cycle,” said Bank of Hawaii.
“There is enough momentum in current trends to produce moderate growth in construction activity through 1991.” □