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sales continued, as shown by the 7.$ percent drop in new car registrations in April. Mr. Pearson said nq immediate improvement is ahead.
“Car sales in Virginia declined in February and March as well, and the cumulative 1989 drop through April now is 12 percent,” said Mr. Pear'; son. “Virginians definetely have pulled back in their purchases of this ‘big-ticket’ durable good, and no re^ versal seems imminent. Look for May sales also to be below last year.”
Mr. Pearson said job growth should slow to below 4 percent this summer, but even so, “the payroll employment strength to date in 1989 is dramatic evidence of a sustained high momentum in the Virginia economy.
90.8%