Posts Tagged ‘double-digits’

Nevada Posts Double-Digit Gain In Taxable Sales In May, 23rd Consecutive Month Of Increases

By Sean Whaley | 3:02 pm July 27th, 2012

CARSON CITY – Nevada taxable sales jumped by double-digits in May, with consumers purchasing $3.7 billion in goods for a 10.4 percent increase over May 2011, the state Department of Taxation reported today.

Clark County taxable sales were up 10 percent, while Washoe County saw a 4.9 percent gain.

Photo by Tabercil via Wikimedia Commons.

All major taxable sales categories were up in May over May 2011.

Bryan Wachter, director of government affairs for the Retail Association of Nevada, said the broad increases across all major categories, from vehicles to general merchandise, is especially noteworthy.

“Things are starting to look good,” he said. “Obviously unemployment is still going to be a huge indicator on where people have disposable income, where consumer confidence is going, and the numbers would appear that people are reasonable in making purchases and feel like it.”

The largest increases were seen in the categories of Motor Vehicles and Parts Dealers, up 20.8 percent; food services and drinking places, up 7.8 percent, merchant wholesalers – durable goods, up 13.7 percent; machinery manufacturing, up 84.9 percent; and clothing and clothing accessories, up 8.9 percent.

Other categories showing increases included the construction industry, up 6.8 percent; general merchandise stores, up 6.2 percent; food and beverage stores, up 11.2 percent; furniture and home furnishings, up 3.5 percent; and accommodations, up 87.9 percent.

Fifteen of Nevada’s seventeen counties recorded an increase in taxable sales for May 2012 compared to May 2011, with only Lincoln and Lyon counties reporting a decrease.

It was the 23rd consecutive month of increases in taxable sales.

The sales taxes collected from the consumer activity are now about $34.5 million more for the 2012 fiscal year through May than what was projected by the Economic Forum.

Wachter said the upcoming back-to-school shopping season will provide further guidance on how Nevada’s economy will perform through the fall and holiday shopping season.

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Audio clips:

Bryan Wachter, director of government affairs for the Retail Association of Nevada, says Nevada unemployment will play an important role in consumer confidence but the May numbers are great:

072712Wachter1 :22 these are great.”

Wachter says the upcoming back-to-school shopping season should be a good indicator of Nevada’s economic health for the remainder of the year:

072712Wachter2 :11 make some improvements.”

 

 

 

 

Nevada Posts Double-Digit Gains In Taxable Sales in February

By Sean Whaley | 4:32 pm April 26th, 2012

CARSON CITY – Nevada consumers purchased $3.2 billion worth of taxable goods in February, a 10.2 percent increase over February 2011 and the 20th consecutive month of increases, the state Department of Taxation reported today.

A number of major taxable sales categories saw double-digit gains, including motor vehicles and parts dealers, up 22.9 percent; bars and restaurants, up 11.9 percent; furniture and home furnishings, up 15.4 percent, and general merchandise stores, up 16.9 percent.

Car dealership. / Photo by Coolcaesar via Wikimedia Commons.

Also seeing big increases were merchant wholesalers-durable goods, up 18 percent; clothing and clothing accessories stores, up 11.3 percent; and accommodations, up 25.7 percent.

The only major category reflecting a decline was the construction industry, which was off 25.5 percent over February 2011.

Both Clark County, up 11.1 percent; and Washoe County, up 10.7 percent; saw double-digit gains.

Fourteen of Nevada’s seventeen counties recorded an increase in taxable sales for February 2012 compared to February 2011. Only Elko, Humboldt and White Pine Counties recorded a decrease.

Compared to the May 2011 Economic Forum projections and based on department analysis, the general fund portion of the sales and use taxes is approximately 4 percent or $21.2 million above its forecast for fiscal year 2012 through February.

Bryan Wachter, director of government affairs for the Retail Association of Nevada, said the February report is encouraging for a number of reasons, including the big increase in the accommodations category, which reflects stronger tourism numbers.

Casino win numbers were strong in both January and February of this year.

“Very optimistic looking forward,” he said. “We’ve got reason to believe that March and April are going to be good months as well. We projected an increase in spending in the spring for Easter.”

The unseasonably warm weather has contributed to the increases in several of the categories, Wachter said.

One ongoing concern is Nevada’s 12 percent unemployment rate, he said.

“We’re still mildly concerned,” Wachter said. “We need to get people spending money and the best way to do that is to give them a job. But these numbers are worth being optimistic for.”

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Audio clips:

Bryan Wachter of the Retail Association of Nevada says the strong numbers should carry through March and April as well:

042612Wachter1 :12 spring for Easter.”

Wachter says Nevada’s 12 percent unemployment rate remains a concern but the February taxable sales report is cause for optimism:

042612Wachter2 :11 being optimistic for.”