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West Virginia Holding Slowest Growing Personal Income
By: Associated Press
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A decline in mining and other industries leaves West Virginia with the slowest growing personal income nation-wide in 2013.
Statistics released Tuesday by the U.S. Bureau of Economic Analysis indicated West Virginia's personal income grew 1.5 percent in 2013 as compared to North Dakota's highest increase of 7.6 percent.
The national average of growth has also declined. The bureau reports the national average as 2.6 percent in 2013, down from 4.2 percent in 2012.
According to the bureau, West Virginia's increase has slowed due, in part, to the decline in mining, durable goods manufacturing and construction. Some industries in West Virginia followed a national trend and increased, including health care and professional services. National earnings growth was greatest in professional services, up $44.6 billion, and health care, up $42.5 billion.