Fourth Quarter 2025 Forecast Update
By George W. Hammond, Ph.D., Research Professor, EBRC
December 2025
READ FULL OUTLOOK ANALYSIS
The forecast numbers below are from our fourth quarter 2025 baseline scenario forecast and were produced in November 2025 by the EBRC.
Arizona Economic Forecast Data (Statewide)
Phoenix-Mesa-Scottsdale MSA Forecast (Maricopa + Pinal Counties)
Tucson MSA Forecast (Pima County)
*The Economic and Business Research Center produces new economic forecasts each quarter (February, May, August, November) for Arizona (statewide), the Phoenix-Mesa-Chandler MSA, and the Tucson MSA. The EBRC makes the forecasts for the five major measures in the above table public each quarter. However, EBRC forecasts many more important economic variables using unique structural econometric models. If your business or organization requires more in-depth forecast data, analysis, and consulting, find out about the benefits of joining EBRC’s Forecasting Project.
Copyright 2025 Economic and Business Research Center, The University of Arizona, all rights reserved.