Arizona economy to shine in 2019

The Valley can expect more of the same in the new year unless something happens at the national level, according to economist Lee McPheters, who shared his forecast at the 55th annual Economic Forecast Luncheon.

During his forecast at the 55th annual Economic Forecast Luncheon, Lee McPheters said that there is currently no general slowdown in economic activity. The only possibility of a recession is if something happens at the national level. Then future economic conditions would be completely unpredictable.

In an article Nov. 30, 2018, on Chamber Business News, McPheters also said:

Businesses are going to have to get used to paying higher wages. In all industries, we’re going to have to pay more if we’re going to be a dynamic labor market.

–Lee McPheters, research professor of economics and director of the JPMorgan Chase Economic Outlook Center