Report: Arizona's Economy Is Showing Signs Of Life
A new report said the state's economy is showing some signs of life. Retail sales in July were up 9 percent from last year for the best July report in 6 years.
Economist Dennis Hoffman of Arizona State University said what makes the growth amazing is that it is taking place with little impact on Arizona's 8 percent jobless rate, but the year-over-year spending increase at bars, restaurants and hotels was much smaller. Hoffman speculates that could mean more people are again hitting the road, after several years of 'staycations,' spent closer to home.