Virginia Economy Growing Slower than Other States According to Financial Report

A report from the State Comptroller’s Office of Virginia says the state is experiencing slower economic growth compared to the rest of the nation in 2018.

The latest financial report cites the Commonwealth is falling behind other states in many areas.

Virginia experienced just over a 4% personal income growth, slightly behind the national average of 4.5%. Housing prices also increased by 5%, down almost 2% compared to other states.

Other areas with lagging growth include employment and number of building permits for private housing.