Home Business Arizona GDP growth outpaces national rate

Arizona GDP growth outpaces national rate

Arizona GDP

According to a newly released report by the Bureau of Economic Analysis, Arizona’s gross domestic product grew by 2.5 percent in the first quarter of 2018.

Real estate posted the biggest gains from the fourth quarter of 2017 to the first quarter of 2018, at 0.48 percent. It was followed by retail at 0.43 percent and finance and insurance at 0.31 percent.

Arizona’s rate was the 10th fastest nationwide, ahead of the overall national growth rate of 2.2 percent. In total, 48 states reported increases, with Washington reporting the highest growth overall (3.6 percent).

– Bureau of Economic Analysis reports

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