Nevada News Bureau Staff: Nevada’s economy continued to show some signs of improvement in August, with taxable sales rising by 5.7 percent over August 2010, a report released today shows.
The report from the Nevada Department of Taxation also shows a 5.2 percent increase in taxable sales in the first two months of fiscal year 2012 that began July 1.
Clark County posted a 3.5 percent increase, while Washoe County showed a 2.1 percent gain.
Major categories showing increases in August included motor vehicle and parts dealers, up 11.4 percent; food and beverage stores, up 4.1 percent; furniture and home furnishings, up 9.4 percent, and bars and restaurants, up 5.7 percent.
But the construction industry continued to lag in the report, showing a 5 percent decline in taxable sales compared to August 2010. General merchandise stores were also down, by 0.6 percent.
Fifteen of 17 Nevada counties reported an increase in taxable sales in August. Only Lincoln and Lyon counties reported year-over-year declines.
The state general fund share of the taxes generated from taxable sales is about $1.5 million above the forecast for the first two months of the fiscal year.
