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Tuesday
9 August 2011
2:56 p.m.
Southern Nevada’s economy was on an upward swing through the end of May, but a slowdown in the nation’s economy could thwart that trend, according to an analysis released today by UNLV’s Center for Business and Economic Research.
The center released its July Index of Leading Economic Indicators, which showed a gain of 0.53 percent over June. The index measures economic data through May and is intended to forecast job growth through Nov. 1.
Gaming revenues, up 24.9 percent, contributed to most of the improvement in the index and much of that was due to strong baccarat play, slot machine wagering and sports book performance, said Bob Potts, the center’s assistant director.
Overall, the index shows a slight upward trend since late 2010, suggesting that the outlook for Las Vegas employment may finally be improving even as the national economy shows weaker growth, Potts said.
“The latter development raises some concerns about the possibility of reduced discretionary spending adversely affecting Las Vegas’ tourist-based economy,” Potts said.
Eight of the 10 indexes recorded an increase.
The July index showed convention attendance dropped 19 percent and taxable sales fell by 0.42 percent.
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These study's try to capture lightning in a bottle. Next month the report will show the economy is heading further down the tube.
People may feel better than a year ago but I don't think it's by much or it will last. There's an election coming up and nothing is going to get done to the point where the future looks brighter than today.
I think it is wonderful that these people in the Business and Economics Center at UNLV make good, good salaries and can have such a knack for the obvious .I think any person with a real job could do a better job that these clowns of reading a few statistics and spitting it out. The "real job" people are living the economy, not isolated from it and its effects in some ivy tower. Thanks UNLV for more useless information. I sure can't put this crap on the supper table for my kids can I? Be sure to pick up after yourselves on the weay out.