Arizona’s Economy Outperforms

The ties between health and the economy run deep. Many experts believe the stronger the economy, the healthier the people – and that the opposite is true as well.

That may bode well for our state since a new report indicates Arizona’s economy is outperforming the national average. From Politics Arizona:

Arizona’s economic growth will remain steady this year and next, helping the state outperform the nation by a slight margin, according to a new forecast.

Robert Kavcic, senior economist at BMO Capital Markets, expects Arizona’s economy to outperform the nation by 0.4 percent when final 2015 results are in, and by the same margin this year and in 2017. The estimates measure changes in Gross Domestic Product for the state and nation.

“The Arizona economy is posting solid and stable economic growth amid an ongoing housing-market recovery and positive demographic trends,” Kavcic wrote in a report last week, as the state also benefits from good performance in tourism.

AzCentral.com put together a short video on Arizona’s economic growth. You can watch it by clicking here or on the picture below.

economy

The AzCentral report added:

….Kavcic 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.

Adding to the solid economic news is the headline of today’s Phoenix Business Journal which read, “Arizona’s economic development efforts moving the needle.” The story pointed out that, “Arizona climbed significantly in moving its average wage closer to the national average, jumping from 85 percent of national average in 2013 to 94 percent of the national average this year.”

Share your thoughts on this positive economic news and whether you believe a better economy can, in turn, lead to better health. After all, finding new ways to drive better health in our state is a major piece of our long-term plan to one day make Arizona the Healthiest State in the Nation!

 

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