An index that tracks gaming revenue, tourism and conventions, retail sales and commercial and residential development shows there’s likely more pain ahead for the Las Vegas area.
Thursday, April 2, 2009 | 10:09 a.m.
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The slowdown in the Southern Nevada economy will continue through the end of 2009, marking the longest recession in the region since the 1930s, a UNLV economist said today.
All 10 of the Southern Nevada Index of Leading Economic Indicators declined in March, said Keith Schwer, director of UNLV's Center for Business and Economic Research.
The index tracks gaming revenue, tourism and conventions, retail sales and commercial and residential development.
“It’s not pretty,” Schwer said. “It’s going to take a while before things get better.”
Schwer said he expects some recovery in 2010 because of the federal stimulus that pumped money into the economy.
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