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Economists predict personal income is growing

 Hawaii’s economic forecasters are estimating that personal income will grow more this year than previously predicted.

The Council on Revenues decided Tuesday to raise its expectations of personal income growth, from 0.6 percent to 2.3 percent, for the 2010 calendar year.

Tax Department Director Stanley Shiraki says the council also set its estimated personal income growth rate for 2011 at 3 percent.

The seven-member Council of Revenues is responsible for preparing revenue estimates that are used by the state government in crafting its financial plans.

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