LV business index falls again

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Friday, July 30, 1999 | 11:24 a.m.

UNLV's Center for Business and Economic Research said its Southern Nevada Index of Leading Economic Indicators posted a decline in July of 0.16 percent. This follows a decline in June of 0.15 percent.

The main factor dragging down the index in July was a decline in gasoline consumption. UNLV said gas sales in May fell 9.73 from April, but were up 0.28 percent from July 1998.

The index, based on data from May, is a forecast of the performance of the Las Vegas-area economy in November. UNLV said the June and July declines are no cause for alarm.

"These small declines indicate no clear trend as the May SNIL increased by 1.1 percent," the UNLV researchers said.