In the United States, consumer spending on goods and services accounts for two-thirds of the economy. With such a large – and growing – share of the national economy, consumer activity provides an important gauge to measure the overall economic health of the country. Consumer spending is constantly influenced by a complex mix of fluctuations in employment, wages, interest rates, housing prices, consumer confidence, the ability to borrow money, tax rates, personal feelings held by consumers, and other factors in the economy.
In Nevada, consumer spending is reflected in taxable retail sales volumes, which have been on the upswing as several economic indicators continue to report positive trends through June 2015. Taxable retail sales in Nevada have consistently grown since June 2010 when 12-month totals bottomed out at $37.8 billion. Total taxable retail sales surpassed their March 2007 historical high of $49.6 billion in March 2015, and they have continued to post new highs in each of the following months. Through June 2015, statewide taxable sales stood at a record-high of $50.3 billion over the previous 12 months. Additionally, trailing 12-month figures have rebounded 33.3 percent
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