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Report: Arizona on pace for biggest state GDP increase since 2011

Arizona’s state gross domestic product is projected to increase by 3.5 percent in 2015, its highest single-year growth rate since 2011, according to a report by Arizona State University’s W.P. Carey School of Business.

The school’s projections have Arizona’s real gross state product topping $278 billion this year.

In 2014, Arizona’s state gross domestic product saw a growth rate of 2.4 percent over the previous year. That matched the national rate but was down from the state’s growth rate of 2.6 percent in 2011 and 3 percent in 2012, though it was an improvement from Arizona’s anemic 1.1 percent growth rate in 2013.

Lee McPheters at the W.P. Carey School said official 2014 state statistics won’t be available until this summer.