Housing construction slows Vegas economy.

In the last twelve months local economy eases to a standstill, mainly on account of the slowdown in residential construction and related employment, comments a local economist. The Southern Nevada Index of Leading Economic Indicators remains flat and it is likely to continue on that track through this year.

There are signs, though, that the housing construction market is firming up, a positive note. Also, valley job growth is still very healthy, increasing at a 3.8% rate. The economy is working through the residential slump that appears to be leveling off about now and then it should be ready for another expansion that hopefully keeps its cool. Proceeds with moderation.