From the Las Vegas Sun: Taxable sales in Clark County rose by 9.3 percent in October compared to the same month a year ago, paced by car and clothing sales and business in restaurants and bars. It was the sixth straight month of increases.
The state Department of Taxation reported Tuesday that taxable sales, one indicator of the economy, was up in 12 of the past 13 months in Clark County. In October, taxable sales reached $2.5 billion.
Statewide, taxable sales jumped 12.1 percent, with only Lincoln County showing a decline of 6.8 percent.
For the four months of this fiscal year, taxable sales in Nevada are 8.2 higher than for the same period a year ago.
The hard-hit construction industry in Clark County is starting to show a rebound. Sales of building materials increased by 4.8 percent, the third consecutive month of a gain.
Business in restaurant and bars in Clark County jumped 12.8 percent, the fourth month in the last five in which there have been double-digit increases. Earlier this month, the state Gaming Control Board reported casino gross win in Clark County was up 10.4 percent in October.
Clothing sales rose 13.2 percent in Clark County in October, the fourth consecutive month of double-digit increases.
Auto sales posted a 12.6 percent gain in Southern Nevada, the 14th month of gains. The furniture business increased by 6.2 percent, and general merchandise was up 5.1 percent.
The statewide 12.1 percent gain — about $3.5 billion — is the largest monthly increase this year. Washoe County, where taxable sales fell by 1.4 percent in September, skyrocketed 14.9 percent in October. Carson City inched up 1.5 percent in taxable sales.
The department said collections from the sales and use tax is 2 percent, or $5.5 million, higher this fiscal year than projected by the Economic Forum. http://www.lasvegassun.com/news/2011/dec/27/nevada-taxable-sales-121-percent/
It's great that the taxable income is up, but considering the dive that has happened over the past several years, this increase is a drop in the bucket.
And the bad news: Politicians won't see it that way and they will want to go on a spending spree to prop up failing parts of government. The schools will demand more money, local governments will want theirs and the hardest agencies of State government their share. They will all say that their government agency deserves all the money.
then you will have the public employees, some who are the best paid in the nation, will demand that any concessions they gave up will be given back. But the reality, it just isn't that large enough increase of money to justify any increase in spending at this time.
All of this will look like a scene out of Finding Nemo:
Sunrise — 5:42.
1 hour ago
In terms of car sales; they are definitely going up. Especially in the used car sector but that is also a reflection of the economy I think. People aren't lining up to buy new vehicles as much.
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