- Associated Press - Wednesday, October 5, 2016

BISMARCK, N.D. (AP) - Taxable sales and purchases in North Dakota during April, May and June dropped nearly 26 percent from the second quarter of 2015, to just under $4.4 billion.

Tax Commissioner Ryan Rauschenberger (RAW’-shuhn-bur-gur) cites the oil industry slump and low farm commodity prices for the decrease.

He says taxable sales in the state “are still returning to pre-oil boom levels,” and that $4.4 billion is close to normal.

Taxable sales and purchases are a key indicator of economic activity in the state. Only two of North Dakota’s 15 economic sectors grew during the second quarter. The mining and oil extraction sector had the biggest drop for the quarter, with a $581 million decrease.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide