Standard and Poor’s Rating Services predicts Arizona to grow by 3.13 percent
Arizona and other mountain states are expected to lead the nation in economic growth next year.
According to the Arizona Republic:
“The Mountain states have been humming along nicely through the third-quarter 2015, with the construction, high-tech, and service sectors having above-average employment growth,” according to the report. Arizona is the most populous state in the region.
Arizona could benefit by sidestepping economic weakness from lower oil prices and from a possible slowdown in trade with China and Canada, which could hit more trade-dependent states harder, especially those in the upper Midwest and Northwest, according to Standard & Poor’s.
Standard & Poor’s foresees the national economy strengthening from 2.5 percent this year to 2.8 percent next year.