BISMARCK, N.D. — North Dakota’s taxable sales and purchases for the third quarter of 2017 increased slightly over the same time period the previous year.
The state Tax Department says it was the second consecutive quarter of growth. Tax Commissioner Ryan Rauschenberger (RAW’-shun-bur-gur) says that’s significant given that the state was in the midst of severe drought.
Taxable sales and purchases for July, August and September totaled $4.7 billion, a 2.3 percent increase over the three-month span in 2016.
Five of the 15 major industry sectors reported gains over the year. The mining and oil extraction sector increased by nearly $248 million, or about 81 percent.
Rauschenberger says if energy prices continue to rise, the impact could be felt in other areas, as well.