Economist Elliott Pollack is bullish on the local economy for 2017.

Arizona economist Elliott Pollack presented his annual forecast for the 10th year for Pinal Partnership at its Dec. 9 breakfast meeting at Rawhide. His predictions include:

■ 2017 will see exciting economic growth.

■ Donald Trump’s tax plan will not pass.

■ Expect faster growth and higher interest rates.

■ Expect higher inflation and higher after-tax profits.

■ A mild recession is likely in the next four years.

■ Pinal County is seeing the growth it needs with pending Lucid Motors, Attessa Motorsports and PhoenixMart.

■ Expect more announcements of businesses moving to Arizona.

■ International trade is one of the biggest issues facing the United States in 2017. “The last thing we need is a trade war.”

■ Arizona needs to closely watch its important trade with Mexico under the new president.

■ Up to 80 percent of existing businesses will comprise most of the job growth in Arizona.

■ Student debt is the top reason people under 35 don’t buy a home.

■ Baby boomers are prepared to sell their homes and live off equity, creating a large market for apartments.

■ 60.5 percent of American adults own their homes.

■ The largest group of homeowners is between 65 and 84 years old.


This article appears in the January issue of InMaricopa.

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