Nevada Posts 26th Consecutive Taxable Sales Increase In August
Submitted by Nevada News Bureau on Thu, 10/25/2012 - 1:38pm
CARSON CITY – Nevada recorded its 26th consecutive month of taxable sales increases in August, when consumers spent $3.7 billion on goods and services for a 7.6 percent jump over August 2011, the state Department of Taxation reported today.
The last decrease in statewide taxable sales came in June 2010, when a 0.3 percent decline was reported over June 2009.
Taxable sales grew by 8.1 percent in Clark County and jumped double-digits in Washoe County to 10.5 percent.
Nine of Nevada’s 17 counties recorded an increase in taxable sales for August 2012 compared to August 2011, with Carson City, Esmeralda, Eureka, Lander, Lyon, Mineral, Pershing, and White Pine counties showing declines.
All major taxable sales categories showed gains in August.
The largest increases were seen in the categories of Motor Vehicle and Parts Dealers, up 21.6 percent; Building Material and Garden Equipment and Supplies, up 36.9 percent; Clothing and Clothing Accessories, up 10.3 percent; General Merchandise Stores, up 6.9 percent; and Merchant Wholesalers-Durable Goods, up 9 percent.
Other major categories showing increases included the Construction Industry Classification, up 2.7 percent; Food and Beverage Stores, up 0.6 percent; Furniture and Home Furnishings, up 6 percent; Accommodations, up 12.2 percent; and Food Services and Drinking Places, up 2.4 percent.
Bryan Wachter, director of government affairs for the Retail Association of Nevada (RAN), said the increases in larger purchases, from vehicles to furniture, is particularly good news in the August taxable sales report.
“Furniture sales I think is a great indicator that hopefully, people are either renovating their houses or buying new furniture or possibly trying to furnish new homes,” he said. “I think that signals more of a confidence, and people are more secure, especially leading into the holiday season.
“We’re very positive looking forward, we’re very optimistic,” Wachter said. “We came up with a 6.8 percent increase in taxable sales for holiday goods this year over last year. I think this news confirms that we were probably justified in our optimism.”
In some good news for Gov. Brian Sandoval as he prepares his next two year budget, the General Fund portion of the sales and use taxes collected from the August taxable sales amounted to $73.1 million, an 8.4 percent increase over August 2011.
Bryan Wachter with RAN says the major purchases are an especially good sign for Nevada’s economy:
Wachter says retailers are optimistic about a strong holiday shopping season: