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WILLIAMSBURG - Many of the state’s leading economic indicators showed slower growth or actually declined during November and December 1987, but the poor performance was not a direct result of the October stock market crash, according to the latest Virginia Business Report from the College of William and Mary.
For November, nine of the report’s major indicators showed less growth than November, 1986. Four of those nine — bank debits, building permits, new car registrations and retail sales — had negative year-to-year growth rates, said Roy L. Pearson, director of the Bureau of Business Research and editor of the monthly report.
“Those November devlopments were not evidence of a strong reaction to the stock market crash,” he said. For example, new car registrations fell statewide by 1.3 percent during November, “much less than the year-to-year declines in August,
91.0%