LAS VEGAS (KLAS) — Businesses have lost confidence in the economy, according to a UNLV report that will be released publicly next week. A draft of the report was obtained by 8 News Now Politics host John Langeler.

The dramatic decline in confidence happened quickly, plunging since a recent survey last quarter, and has reached depths that haven't been seen in more than a decade, according to Andrew Woods, director of UNLV’s Center for Business and Economic Research.

"We found (businesses) were the most pessimistic they've ever been, except for the Great Recession," Woods said. That recession followed the collapse of the housing market in 2008.

A third-quarter survey produced a Business Confidence Index of 75.2%. That has fallen to 50.5% in the fourth quarter, the new report shows. It's t

See Full Page