Arizona has climbed into the top five states for economic momentum, according to a quarterly report out this week.
The Index of State Economic Momentum, published by Washington-based State Policy Reports, ranked Arizona as the fifth-best state for economic momentum during the first quarter of 2018.
The state’s showing was one rank higher than a year ago, when it was No. 6.
The report highlights the economic vitality of states by ranking them on personal income growth, employment growth and population growth, according to KTAR.com.
Arizona fared better in all three. The state ranked No. 6 in population growth, up from eighth last year, while it climbed one spot in employment growth to No. 9 and three spots in personal income growth to No. 3 this year.
Gov. Doug Ducey praised the state’s results in the latest report.
“Arizona’s growing economic momentum owes itself to the hard work of entrepreneurs, business owners and their employees across our state,” the governor said in a prepared statement. “We will continue to work to make Arizona the best state in the nation to launch new ideas and start or scale a business.”
Nevada topped the latest ranking.