“I think the economy locally still is strong,” said Andrew Woods, director of UNLV’s Center for Business and Economic Research. “Where we’re concerned is that the national outlook is certainly dampening… there’s these shocks essentially happening to the economy. In this case, tariffs and with that is uncertainty in how businesses are responding. So far, it’s more of a wait-and-see approach.”

Four in 10 local business leaders did express optimism about increased sales in Q2. The rest believe sales will be the same as Q1 or worse. The biggest challenges for employers were economic uncertainty and hiring qualified people.

The report shows an overall index increase from 90.4 in the last quarter of 2024 to 105.7 for Q1 in 2025. The report pointed out that Clark County had “relatively negative economic signals” near the end of 2024. Unemployment increased, taxable sales were lower, gaming revenue declined and fewer airline passengers visited.

Woods added that the CBER is not predicting a downturn but is revising the forecast to reflect lower growth this year.

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