Mon, May 28, 2012, 3:21 PM EDT - U.S. Markets closed for Memorial Day

Nevada sales up 12.1 percent in October

Nevada: Taxable sales jump 12.1 percent in October; big gains in auto sales, construction

CARSON CITY, Nev. (AP) -- Taxable sales in Nevada jumped 12.1 percent in October compared with the same month last year, with big gains reported in the construction, auto, clothing, and bar and restaurant sectors, the Nevada Department of Taxation reported Tuesday.

Merchants sold $3.5 billion in goods, on which the state collected gross revenues of $270 million. The tax collections were up 9.8 percent, and the $68.5 million that goes to the state general fund is up a similar percentage.

Sales rose 9.3 percent in Clark County and 14.9 percent in Washoe County, Nevada's two population centers that include Las Vegas and Reno, respectively.

While sales from accommodations fell 8 percent statewide, sales at bars and restaurants rose 11.7 percent. Both are key indicators of Nevada's vital tourism economy.

The October report marks the second consecutive month of double-digit gains and continues a 16-month streak of improved sales.

All but one of Nevada's 17 counties reported improved sales totals, with Lincoln County being the exception.

Nevada's construction industry, which was hammered under the Great Recession when the state's housing bubble burst, reported a gain of 44.5 percent in October. But a lot of that activity is in rural counties, where one transaction or project can equate to a big gain on paper but does not indicate a trend.

For example, sparsely populated Pershing County reported combined taxable sales of $15 million in October, a 132 percent increase over October 2010. Statewide, sales attributed to actual construction of buildings fell 1.7 percent.

Elsewhere, total sales were up 1.5 percent in Carson City, and 46.2 percent in Elko, 6.4 percent in Douglas, 32.9 percent in Churchill and 22.2 percent in Storey counties.

But there are some signs Nevada consumers, who clutched their wallets during the recession, are easing their grip on spending.

Vehicle and auto parts sales rose nearly 13 percent in October, while sales of durable goods were up nearly 7 percent. Clothing and accessories stores saw a 12.2 percent increase, and home furnishings rose 3.8 percent.

For the fiscal year that began July 1, the portion of sales and use tax collections that fund state government were $5.5 million, or 2 percent, above projections made in May by the independent Economic Forum.

The forum is an appointed panel of fiscal experts who forecast revenues on which the state budget is based.

 

1 comment

  • marco rubio  •  5 months ago
    NEV. IS CHARGIN 12.% FOR ILLEGLAS, NOW,,,,,,,,,,,,,,,,,,,,
 
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