Strongest First Quarter since Report was Created

View the 2013 1st Quarter Hawaii Business Activity Report (pdf, 7.06 kb)

(Honolulu, Hawaii April 14, 2013) – The  most recent First Hawaiian Bank Business Activity Report (BAR) showed a 10.81 percent increase in first quarter "same store sales" over the comparable period of 2012, making it the strongest first quarter in the past four years, according to an announcement today by Keith Nagata, senior vice president and Business Services manager.  It was the second time since the report's inception that all 16 sectors in the report posted positive gains. 

 "We are seeing consistent positive growth each quarter with Tourism leading the way once again posting solid double digit increases in the Hotel sector," Nagata said.  "Total sales volume of nearly $800 million was a record high of any quarter to date with all 16 industries posting gains over the prior year.  This is a good indication that our economy is getting stronger and consumer confidence is increasing." 

 The 10.81 percent is the highest first quarter increase in four years and is the 13^th consecutive quarter of positive growth.  Previous first quarter increases were: 10.38 percent in 2012, 10.17 percent in 2011, and 3.49 percent in 2010.  The BAR tracks sales activity in 16 different economic sectors including automobile, retail, hotels, home improvement, restaurants, shipping and travel, among other categories.

 First Hawaiian Bank is the largest local processor of credit and debit card transactions in Hawaii.  In 2012, the bank processed $4.3 billion worth of customer credit and debit card sales transactions.  The bank provides merchant services to nearly 7,500 First Hawaiian Bank merchant locations throughout Hawaii, Guam, CNMI and the U.S. Mainland. 

 First Hawaiian Bank (fhb.com) with total assets of $16.6 billion was founded in 1858 and is Hawaii's largest and oldest bank. The bank processes all major U.S. credit cards as well as JCB, China Union Pay and BC Global Card.