Business forecast points to local decline

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Friday, Oct. 1, 1999 | 10:54 a.m.

UNLV's Center for Business and Economic Research said its Southern Nevada Index of Leading Economic Indicators declined 0.62 percent from August to September.

The index is based on data from July and is a forecast for the performance of the local economy in January 2000.

The July indicators were marked by declines in residential and commercial building permits issued, taxable sales, gasoline sales and convention attendance.

McCarran Airport traffic, visitor volume and gaming revenue were all up.

UNLV forecasters said they expect a positive kick in January 2000 as the new millennium begins.

But their forecast concluded: "Some softening seems to have set in after the marked increase in the index during the first half of 1999. All in all, people seem to have taken a more cautious stance in recent months."