Arizona’s economy will expand 2.6 percent this year and 2.8 percent in 2018, topping U.S. growth estimates of 2.2 percent both years, according to a quarterly study by BMO Financial Group of Toronto. Business conditions — which include population growth, exports and bankruptcies — are the strongest component of Arizona’s economy, according to the analysis, while state finances — including tax receipts, state-government finances and pension liabilities — are the weakest.

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