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Why 2024 will be the defining year for the ’20s economy, and how Virginia's economy is doing

We’re at the start of a pivotal year for the economy: some analysts believe that 2024 will define the decade ahead.

The US economy is at a crossroads — on the threshold of another tech revolution but still contending with a fair share of headwinds — as it enters the mid-20s. This year’s trajectory will be shaped by shifts in the post-pandemic environment, technological advancements and the impending presidential election.

There’s a lot on the line: the decisions made in 2024 about monetary policy, global politics, and AI will likely determine the United States’ economic direction for the remainder of the decade.

A lot could go wrong, and a lot could go right.

Here are a few charts that paint a picture of the economy in Virginia.


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