3/17 Weekly Report - A Silver State Update, Value Added, and Creepflation...
In this 3/17 Ozone report - Don, John, and Zach dive into critical economic data surrounding the Nevada economy, "this time being different"... or n , and the latest on grocery store inflation data
A Q1 Silver State Update (@DonMiami3, MacroEdge Chief Economist)
Happy Sunday evening all -
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The time seems to tick on at an ever-increasing pace here as we are already staring April in the face…! Time seemed to go by even quicker in our endless ‘up only’ regime in the markets that dominated the headlines through most of Q1. We’ve seen things like ‘Jeo Boden’ coin make and lose people fortunes, NVDA climb to all-time highs, and a lot of economic indicators continue to weaken on a broader basis. In tonight’s weekly report - I’ll turn our attention back to Nevada data and you’ll get a good idea of how things are trending in the silver state on the construction front, employment front, with casino gaming revenue, and a few other important metrics that we like to analyze in the state. Even though - as we’ve discussed in past reports - that the Nevada economy is larger than times past and more ‘diversified’ away from gaming, Nevada in our opinion will continue to be a good bellwether state to monitor as it reflects a larger cyclical picture for the economy in contrast with many other states. It’s tourist economy is still heavily reliant on gaming revenue (as is the state) and this cyclical employment sector tends to be a core negative for the state’s economy when consumer spending dries up… though it has not yet. Let’s dive into the data… shall we?
