ASU predicts Arizona's economy will continue to grow

PHOENIX (AP) - A new Arizona State University forecast predicts that the state's economy will continue to expand in 2018 with no expected recession risk and a solid commercial real estate market benefiting from job gains.

Arizona State University economists expect Arizona's economy will continue improving into 2019 with population growth picking up slightly.

The Arizona Republic reported Friday that Arizona's 4.9 percent unemployment rate remains above the national average and is in part due to many new residents moving to the state.

Economics Professor Lee McPheters says the population in Maricopa County in central Arizona is increasing by about 200 people on average daily.

The Phoenix university predicts that Arizona will add about 69,000 net new jobs this year and expects the number to increase to 85,000 in 2019.

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Information from: The Arizona Republic, http://www.azcentral.com

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