Virginia isn’t in a recession, but it’s on the cusp of one, ODU economists say

Old Dominion University economists Bob McNab and Vinod Agarwal’s new economic forecast for the state and region is bleak.

Agarwal told an audience at ODU Wednesday the regional economy in 2026 will be worse than last year.

“Economic growth rate will be a little smaller,” he said in an interview after the event. “Unemployment rate will be slightly higher. Job growth will be about the same in the last year, and essentially, the overall economic activity will be slightly lower than what it was last year.”…

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