11.5% taxable sales increase in ND
BISMARCK, N.D. (KFYR) - Good news for the state’s economy: people are shopping more than last year.
In April, May, and June, taxable sales and purchases were $5.9 billion — that’s 11.5% higher than the same time period last year. Tax Commissioner Brian Kroshus says there’s a story behind the numbers.
“When you look at our larger, metropolitan areas in non-oil-producing counties: Fargo, Grand Forks, Bismarck, they either showed a slight increase, or a slight decrease, and that’s really leveled off. And that’s something we’re going to have to watch going forward because we can’t always rely on high commodity pricing,” said Tax Commissioner Brian Kroshus.
This is the fifth consecutive quarter taxable sales and purchases have increased. The mining and oil extraction sector rose by 38%, and the wholesale trade sector increased by 30%.
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