Improvement in monthly UNLV economic index called ‘encouraging sign’

A UNLV index gauging Las Vegas’ economy moved up for the second consecutive month, signaling that jobs could be created by early next year, officials said.

The Southern Nevada Index of Leading Economic Indicators released by the Center for Business and Economic Research rose 0.53 percent in August as a result of gains in visitor volume and gasoline consumption, said Bob Potts, the center’s assistant director.

The August index, which measures economic activity through this past June, is intended to predict job growth in the coming months.

“The index’s rise is an encouraging sign amidst concerns that national and international economic uncertainties may drag down the discretionary spending necessary for continued economic growth in Nevada,” Potts said.

The August index showed a 6.2 percent increase in taxable sales and 1.8 percent increase in convention attendance over July. The value of residential and commercial permits was also higher.

Gross gaming revenue fell 10 percent from the July to August index, but was 20 percent higher than a year ago.

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