Brian Bonnenfant, Center for Regional Studies at UNR, and I did a presentation this morning for the Northern Nevada Network. The presentation focused on an overview of the economic performance of the Reno MSA, including a look at historical economic indicators, including taxable sales, gaming revenue, visitors, single family home sales, home prices, employment, wages, and more. The presentation also considered future population and employment projections and issues in the region associated with this growth. A copy of the presentation is included below:
Economic indicator data published in our previous blogs is useful in understanding changes occurring in each individual area, but do little to provide a picture of the overall economy and its changes over time. Economic indices, which combine multiple indicators into a single number, can represent either the current state of the economy (coincident index) or future economic changes (leading index), providing a clearer picture of the economy and its trends.
Ekay Economic Consultants, Inc., in cooperation with the Center for Regional Studies at the University of Nevada, Reno, is pleased to announce the release of its Leading Economic Index and Coincident Economic Index for the Reno MSA area. The indices are referred to as RLI and RCI, respectively. Latest results of the two indices are summarized below, along with a graph of their historic changes. For more details about index indicators, values, and methodology, please click here.
-Reno MSA Leading Index (RLI) increased between September and October 2015 (0.48%), indicating expected growth in the regional economy over the next 6-12 months. This is the 41st consecutive increase in the index since May 2012.
-Reno MSA Coincident Index (RCI) increased between October and November 2015 (0.24%), (most recent data), verifying that the current economy continues to expand.