Arizona economic growth
A steadily growing population and stabilizing housing market are two central factors in Arizona’s rapidly expanding economy at a rate faster than the nation’s again in 2018 according to a new forecast by BMO Capital Markets.
Photo source: https://azgovernor.gov
Key findings:
Third year of solid growth
The Arizona economy expanded 2.6 percent in 2016 and 2017 and is poised to grow 2.7 percent this year.
Wages play a significant role
Historically, Arizonan’s personal income trailed other states, but that’s changing. The sunset state’s wage growth is up 7.4 percent over the past four quarters, moving at one of the swiftest paces in the country, according to the forecast.
Arizona economic growth