Forum News Service, Published October 05 2013
Weather slows taxable salesBISMARCK — North Dakota's taxable sales and purchases dropped 2.4 percent during April, May and June when compared to the same three months a year ago, according to the state Tax Department.
North Dakota recorded about $6.3 billion in taxable sales and purchases during the second quarter, a decrease of $157.3 million from the second quarter in 2012, Deputy Tax Commissioner Ryan Rauschenberger said in a statement.
Rauschenberger said a late spring blizzard and excessive rains hampered some industries during the quarter, including mining and oil extraction, which dropped 15.7 percent.
Rauschenberger said the decrease in mining and oil extraction also suggests that the “rapid growth of energy development may be leveling off to a more sustainable pace.”
Retail trade was up 1.9 percent during second quarter when compared to the same quarter a year ago. Wholesale trade was up 2.1 percent during that same period.
Rauschenberger said the growth in the retail and wholesale trade sectors suggests that consumer confidence remains strong in North Dakota.