Nevada taxable sales continue push to recovery, rise 3.7 percent
Nevada continues to push its way toward boom-era spending levels.
The state Department of Taxation reported Monday that taxable sales stayed on the road to recovery in August, with year-to-year increases that have become routine post-recession.
Businesses sold $3.8 billion worth of tangible goods statewide in August, up 3.7 percent from $3.67 billion in August 2012. In Clark County, sales improved to $2.69 billion, up 3.6 percent from $2.6 billion a year earlier.
Some of the local economy’s biggest sales categories posted the strongest increases.
Spending inside bars and restaurants — the single largest sector, at more than a quarter of all spending — jumped 7.4 percent, to $735.7 million. Sales among dealers of cars and car parts, which made up more than 12 percent of all countywide sales, jumped 12.2 percent, to $329.7 million. Sales inside clothing and accessories stores rose 6.3 percent, to $293 million. And merchant wholesalers of big-ticket durable goods such as office equipment and appliances saw sales gain 6.7 percent, improving to $151.4 million.
Other categories with sizable gains included furniture retailers and electronics and appliance stores.
Construction-related sales were uneven in the month. Specialty trade contractors and construction of buildings both rose, but an adjustment in heavy and civil engineering construction pushed that subcategory into a loss. In all, construction spending in Clark County came in at $32.7 million in August, down 23.3 percent from $42.6 million a year earlier.
Still, overall spending moved further off its recession-era floor and closer to pre-downturn levels.
Countywide, taxable sales were 20.3 percent above their August low of $2.23 billion, reached in 2009. The month’s sales were off 11.1 percent from their 2008 peak of $3.03 billion.
Statewide, sales were 23.6 percent above an August 2009 low of $3.08 billion and 9.1 percent below their August 2006 high of $4.18 billion.
Gross revenue collections from sales and use taxes, which help fund prisons and schools, totaled $297.3 million in August, up 3.15 percent from a year ago.
Contact reporter Jennifer Robison at jrobison@reviewjournal.com. Follow @J_Robison1 on Twitter.
