Increasing concerns about potential stagnation in Nevada’s economy have begun to emerge in the last couple of months, and a number of key economic indicators that had been growing consistently have shifted to a flat or even negative trend. Notably, other indicators have demonstrated resilience despite recent headwinds, and the state’s housing market is now reporting strong volume gains and price increases that rank at or near the highest in the nation. While the outlook is for continued expansion buoyed largely by more than $7.1 billion in major project investments, lackluster economic growth, stubbornly high rates of unemployment and a troubling level of long-term mortgage delinquency remain formidable and unresolved conditions weighing down Nevada’s economic prospects.

Growth in the number of visitors coming to Nevada has been modest, with annual gains of less than 1.0 percent reported in the past six months. In the 12 months ending July 2013, 47.2 million visitor trips were reported in Clark and Washoe Counties, up only 0.4 percent (201,200 trips) from the same period last year. Additionally, the number of enplaned and deplaned passengers at McCarran and Reno-Tahoe International Airports stood at 45.2 million during the past twelve months, a decrease of 0.5 percent when compared to the same period of 2012. The Reno-Sparks area passenger volumes are trending slightly more negative relative to its southern Nevada counterpart, with Reno-Tahoe reporting a decline of 1.2 percent and McCarran registering a decrease of 0.4 percent.

Click here to read more.