Why economic growth in Phoenix is faring better than what the latest data show

 

Phoenix GDPBy Eric Jay Toll and Mike Sunnucks | Phoenix Business Journal

Phoenix ranked 148th in GDP growth last year among U.S. metropolitan areas, according to new numbers released Wednesday by the U.S. Bureau of Economic Analysis.

Metro Phoenix’s real GDP grew by 1.8 percent in 2014 from 2013. That lags the national average of 2.3 percent, according to BEA.

The regional economy totals $198 billion, according to the federal agency. Arizona’s GDP increased 1.4 percent in 2014.

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