Consumer spending helps spur robust increases in state, county taxable sales
April 29, 2014 - 2:30 pm
Consumer spending helped drive healthy increases in state and local taxable sales in February.
The dollar volume of goods sold by businesses statewide came in at $3.51 billion in the month, up 4.6 percent from $3.36 billion a year earlier, the state Department of Taxation reported Tuesday.
The jump in Clark County was even bigger: Merchants here rang up $2.67 billion in sales, a 10.4 percent gain compared with $2.41 billion in February 2013.
Bars and restaurants, which made up more than a quarter of all local spending in February, were the biggest contributor to higher sales countywide. The industry boosted its year-over-year sales by about $70 million, or 11 percent, to $715.5 million.
Dealers of cars and car parts saw a sales jump of nearly $35 million, or 11.9 percent, to $306.5 million. Merchant wholesalers of big-ticket durable goods such as office equipment posted a sales spike of about $20 million, or 5.8 percent, to $145.2 million.
Other categories that experienced sales gains included building material and garden equipment and supply stores, up about $7 million, to $86.4 million, and telecommunications, up roughly $9 million, to $32.9 million.
And while construction-related spending plummeted 77.4 percent statewide, building-sector sales actually spiked by $9 million, or 27.3 percent, to $42.4 million.
Taxable sales help fund prisons and schools. Gross revenue from sales and use taxes were up 5.8 percent year over year in February, to $280.4 million.
The General Fund portion of sales and use taxes was 1.8 percent, or $11.7 million, below forecasts of the Economic Forum, a nonpartisan group that sets revenue projections for state budgets.
Contact reporter Jennifer Robison at jrobison@reviewjournal.com or 702-380-4512. Follow @J_Robison1 on Twitter.