W.P. Carey School of Business Arizona State University
You can expect more slow growth in Arizona next year, but we’re still two to three years away from full economic recovery. That’s according to experts today at the 50th annual Economic Forecast Luncheon co-sponsored by Arizona State University’s W. P. Carey School of Business and JPMorgan Chase.
About 1,000 people attended the event at the Phoenix Convention Center. Key experts covered the state and national economies, as well as the stock market and housing market.
“We expect 2014 to be the eighth year in a row for subpar growth in Arizona, which was hit harder than most states in the recession,” said Research Professor Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W. P. Carey School of Business. “While growth is slow compared to past recoveries, we are making good progress compared to other states. Arizona jumped all the way up from the No. 49 state for job growth in 2010 to No. 8 in 2012 and No. 7 by October of this year. The long-term economic outlook here is positive.”
