Article originally posted on AZ Central on August 23, 2016
Arizona’s economy is shedding its underperforming label and will start to push above the national average, according to a new report.
Robert Kavcic, senior economist at BMO Capital Markets in Toronto, expects the state’s economy to grow by 2.1 percent this year and 2.4 percent next year, following subpar strength over the past five years.
“Real GDP growth is expected to improve to a 2.1 percent pace this year, supported by strong job gains and firming housing-market conditions, and run slightly ahead of the national average in the year ahead as demographics remain supportive,” he wrote.
