Total consumer debt increased 2.3% for Hawaii consumers year-over-year in Q2 according to a new report published by the state Department of Business, Economic Development and Tourism on Friday.
Chief State Economist Eugene Tian, told PBN that while the state's results showed high consumer debt per capita, the report is "encouraging news." At the national level, consumer debt has seen a 4.1% increase.
"Consumer spending is a vital part of the GDP, around 70% of Hawaii's GDP is consumer spending,"…
