From going out to eat, buying a new car or getting started on that home DIY project, Nevadans have been spending at record levels since early 2021. Healthy household budgets and ample job opportunities have translated into confident consumers who were willing to spend freely even as inflation rose to 40-year highs.

The positive consumer mindset helped drive taxable retail sales in Nevada to a record of $84.2 billion for the 12 months through October 2022, a 14.5 percent increase over the year. The annual growth rate in taxable retail sales has been steadily slowing since peaking at 32.5 percent in February 2022 as the state and national economies emerged from the pandemic-related slowdown, but it remained at more than double the typical growth rates during the years before the pandemic.

Click here to download the report and read more.