Market: Phoenix, Tucson
July 8, 2013
According to the latest Metro Monitor Report from Brookings, Phoenix’s economy fared better than any other city’s in the country during Q1 2013, with Tucson a close second. Brookings bases its rankings using GPM growth (Gross Metropolitan Product, the total value of all goods and services produced). Phoenix and Tucson’s GPM increased 1.2% and 1.1%, respectively.
Despite the economic growth, Phoenix remains 2.6% below its pre-recession peak output levels, while 7 out of the 10 Mountain West MSAs have achieved full recovery.
Read the full article at the Phoenix Business Journal.