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Phoenix has dropped two positions in a research division's monthly economic rankings.

According to the Phoenix Business Journal, On Numbers categorized Phoenix 32nd among the 102 largest metropolitan regions with populations that have over 500,000 inhabitants. Phoenix was considered 30th in economic liveliness in February.

On Numbers analyzes 18 statistical indicators to compile the index. Among the factors are private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity.

The classifications are gathered by the Federal Housing Finance Agency and the U.S. Bureau of Labor Statistics.

The index indicated that Austin, Texas, holds March's top spot, while Bridgeport-Stamford, Conn., ranks last.

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