Taxable sales, purchases grow during 1st quarter in ND
BISMARCK, N.D. (AP) — North Dakota continues to show signs of economic growth.
State officials say taxable sales and purchases for the first quarter of 2022 were up 13.2% compared to the same period last year.
State Tax Commissioner Brian Kroshus reports taxable sales and purchases for January, February and March totaled $4.7 billion, with all industry sectors seeing an increase, the Bismarck Tribune reported.
“It’s encouraging to see continued growth in taxable sales and purchases for the beginning of 2022, a reflection of buying activity by consumers and businesses across the state,” he said. “This is the fourth quarter in a row that the state has experienced an increase in taxable sales and purchases, since the decline due to the (coronavirus) pandemic.”
All of the 15 major industry sectors reported increases over the first quarter of 2021. The mining and oil extraction sector rose 37%, and the wholesale trade sector was up 27.5%.
“It is rare to see an increase in every major industry sector,” Kroshus said. “With all of the industries showing growth, the overall economy is moving in a positive direction -- demonstrating the underlying strength of North Dakota’s well-rounded economy.”
Counties with the highest percentage increases were Williams at 32.1% and Renville at 34.5%. Morton County had an increase of 5.1%, while Burleigh County experienced a decrease of 0.4%.