There are some very positive signs at the mid-yearpoint--population gains are higher than expected and personalincome is very strong. But, there are also negative indicators,with job growth lower than projected, according to data publishedin the summer issue of Arizona's Economy, put out by the EllerCollege of Business and Public Administration at the University ofArizona.
"We still expect below-average growth, but no recession, for theforeseeable future, as the 'bubble' economy of a year ago deflatesand things get back to 'normal,'" says Marshall Vest, forecastingproject director.
The Bureau of Economic Analysis' latest numbers show personalincome up by 9.1% in 2000, a higher gain than most economicpredictions. Forecasters have called for a 6.5% gain in personalincome for this year and a 5.9% increase in 2002.
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