Virginia revenues are continuing to rebound as the economy improves, state officials announced Thursday.
State revenues in March rose 12.4 percent over March a year ago. It is the 12th month out of the past 13 in which revenues rose over a year ago. For the year to date, revenues are up 4.9 percent — above projections.
Sales tax revenues alone grew by 8.5 percent.
Gov. Bob McDonnell (R) echoed the same cautious note he has when announcing similarly rosy revenue projections for the past few months: He said the numbers are a good sign but said many Virginians are still hurting.
“While we can celebrate the recent good news for our economy and are pleased with the continued trend toward recovery that these numbers indicate, we cannot lose sight of the fact that this recovery is still fragile,” he said.