Arizona Business Conditions Index makes positive gains
The Arizona Business Conditions Index is edging back to growth territory.
The March reading moved up to 49.3 from 46.3. A reading above 50 represents a growing economy.
"Is this the turnaround in the economy that we've been hoping for? While this does not breach the critical 50-point mark that indicates growth or recession in the local economy, it is the first step upwards seen since November," said Dawn McLaren, a research economist at the W. P. Carey School of Business at Arizona State University, which compiles the monthly index. "It does not create a trend, but it may be the first step towards reversing the strong downward trend that began at the beginning of 2006."
The production component of the index gained the most ground, rising to 51.3 from 44.3 in March free credit report online. Employment also showed improvement hitting 50.0 in March from 46.3 the previous month.
On a more negative note, the separate prices index also rose - to 78.2 in March from 69.1 in February, indicating continued upward pressure.
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