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Here's how likely a recession is in Tucson in 2020

How the economy is really doing
Posted at 5:59 AM, Dec 25, 2019
and last updated 2019-12-25 07:59:37-05

TUCSON, Ariz. — 2019 proved to be a year of a lot of positive growth for Tucson.

Last year was when Tucson finally recovered from the recession. But as the saying goes -- what goes up, must come down.

George Hammond with the University of Arizona's Eller College says that holds true for the economy.

"I think we're going to wind up posting slightly faster growth in 2019 than we did in 2018," Hammond said. "This all adds up to a lot of concern about 2020."

Hammond says the odds are that the U.S. economy will keep growing through 2020, and even 2021. But the risks of a recession have been gradually increasing.

That's due in part to a lot of trade uncertainty having unpredictable impacts on the stock market, and both global growth and consumer spending slowing, according to Hammond.

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"So that's something that we're going to want to keep an eye on as we look forward into next year and the year after," Hammond said.

There is the possibility the national economy could slip into a recession over the next couple of years, which would impact Tucson's economic growth, Hammond said.

While it's hard to tell exactly what will happen next year, Hammond says Tucsonans don't have a lot to worry about at the moment.