Economic forecast by University of Arizona center cites sluggish growth, accelerating pace


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TUCSON, Arizona — A new economic analysis and forecast says Arizona's economic growth has been sluggish recently but should pick up at an accelerating pace.

Center Director George W. Hammond of the Economic and Business Research Center at the University of Arizona said Arizona's growth in the fourth quarter of 2014 was restrained by sluggish gains in employment, income and retail sales.

According to Hammond, the state's economy grew at rates comparable to the nation as a whole but well behind those of Arizona's own history.

Hammond cites the weak recovery of housing and construction and says the federal fiscal situation is also a drag on the state's economy.

Hammond says faster national growth, lower gasoline prices and less federal fiscal drag should help the state's economy gain momentum.

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