Experts deliver forecast of Arizona's economy - FOX13 News, WHBQ FOX 13

Experts deliver forecast of Arizona's economy


PHOENIX (AP) - Some of Arizona's top business experts say jobs and home prices are slowly rebounding, but the state has a long way to go and federal budget cuts aren't helping.

Experts from the W.P. Carey School of Business at Arizona State University delivered their latest forecasts Thursday.

They say Arizona has gained back nearly 40% of the 314,000 jobs that were lost during the recession, but that pace is well behind the nation as a whole.

While the state will have to wait a couple more years for full recovery, the forecasts show Arizona is doing better than most states.

Economics professor Dennis Hoffman says decisions that have yet to be made on possible Medicaid expansion, the loss of the temporary sales tax and potential taxing of online sales could affect Arizona's economy going forward.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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