Nevada taxable sales back off recent increases
Nevada’s taxable sales eased off of their strong recent gains in January.
Sales of tangible goods were flat in the month at $3.82 billion, a 0.2 percent gain when measured against January 2015, the state Department of Taxation reported Tuesday. That’s less than the mid- to high single-digit percentage gains that became customary early in the recovery.
Taxable sales across Clark County edged up 0.8 percent, to $2.88 billion.
Spending trends were uneven.
Sales among dealers of cars and car parts saw a drop of 0.7 percent, to $322.8 million.
Furniture sales fell 1.8 percent, to $53.9 million, while clothing and accessories sales slumped 8.2 percent, to $230 million.
But general merchandise stores, including department stores, saw sales grow 1.2 percent, to $227.2 million.
Bars and restaurants — the biggest spending sector, at 28.8 percent of the total — improved sales by 2.9 percent, to $830.3 million.
Construction spending gained 8.6 percent, closing out January at $50.9 million.
Gross revenue collections from sales and use taxes, which help fund public services including prisons and schools, totaled $306.3 million in January, up 2.1 percent year to year. The General Fund’s share was $77.2 million, up 1.6 percent.
In the first seven months of fiscal 2016, the General Fund portion fell 1.5 percent, or $9.7 million, below projections of the Economic Forum, a nonpartisan panel that forecasts revenue for state budgets.
Contact Jennifer Robison at jrobison@reviewjournal.com. Find @_JRobison on Twitter.
