Arizona’s Economy Slowed in 2015, Federal Data Shows

Ends up, the year 2015 was a sluggish one when it concerns economic growth for our state.

That’s according to the United States Bureau of Economic Examination, which found Arizona grew an anemic 0.9 percent last year, half its rate from the previous year. Still, it had the capability to place 15th in the country in growth. Also in spite of the stagnation, the state’s labor market videotaped its finest year considering that the Great Recession began in late 2007.

The mining market was the worst proving of any kind of one of Arizona’s fields falling 16 percent from the year before. Utilities similarly dropped hard, 11 percent, noting the 4th year in a row of inflation-adjusted declines because area. The building furthermore published losses.

Nationally, the states that revealed the most difficult financial development were California, Texas and additionally New york city, specifically. The most substantial reduction on the various other hand, continued to be in North Dakota, where its 6 percent growth in 2014 depended on -2.1 percent in 2015.

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