Gross Domestic Product, Inflation-Adjusted Percent Change
Annual average inflation-adjusted GDP growth between 2004 and 2013, representing a complete economic cycle, was 1.3 percent in the nation’s metro areas, falling short of the target of 2-to-3 percent. In two of Arizona’s seven metro areas — Flagstaff and Phoenix — real GDP growth slightly exceeded the U.S. metro average; gains in the Sierra Vista area nearly were average.
Since the end of the 2008-09 recession, the U.S. metro average experienced a real GDP increase of 8.2 percent over four years. The four-year gain in the Phoenix area was 9.5 percent; increases were smaller in Flagstaff and Tucson. In the other four metro areas, real GDP in 2013 was less than in 2009; Yuma experienced a decreases in each of the four years and Lake Havasu City suffered a decline in each of the last six years.