- November 19, 2022
- Posted by: Stratford Team
- Category: Economy
Though many business leaders think a recession is imminent, current economic forecasts show only a mild slowdown for Southern Nevada’s economy over the next 6-12 months. That is the big takeaway of the Fall economic outlook report released today by UNLV’s Center for Business and Economic Research (CBER).
The CBER team says that the initial recovery from the pandemic recession looked a lot like a “V-shaped” recovery. Since the beginning of the recovery, Nevada experienced two quick expansions followed by two longer pauses or slight declines in economic activity. This created more of a “broken-V” recovery.
Data that tracks the leisure and hospitality sector has been moving in the wrong direction for the past several months, according to CBER economists. They argue that the two-quarter decline in real GDP growth in the first two quarters of 2022 was a false negative signal. Now, however, events at the national and local levels call…
