|FOR IMMEDIATE RELEASE||Contact: Rick Clayburgh, Tax Commissioner 701-328-2770|
|July 1, 2004||Kathryn Strombeck, Research Analyst, 701-328-3402|
North Dakota First Quarter Total Taxable Sales and Purchases Exceed 10%
BISMARCK --- Tax Commissioner Rick Clayburgh released figures today showing North Dakota's total taxable sales and purchases during January, February, and March of 2004 were $1.67 billion, an increase of 10.8 percent compared to the first quarter of 2003.
"This report suggests that the momentum in consumer spending that started during the latter part of 2003 continued into the first part of 2004," said Commissioner Clayburgh. "It has been well over a decade since a first quarter reported growth over ten percent." The last time a first quarter exceeded ten percent growth was in 1990.
All sectors reported gains when compared to the same time one year ago. Farm Machinery and Farm Repair Parts, part of the Wholesale Trade sector, led the sectors by gaining 37.6 percent when compared to the first quarter of 2003. Overall, the Wholesale Trade sector grew by 15.3 percent. The Construction sector grew by 34.3 percent compared to the same quarter in 2003.
The remaining sectors also grew: Mining and Oil Extraction grew by 16.2 percent, Manufacturing grew by 10.9 percent; Transportation, Communications and Public Utilities grew by 11.9 percent; Retail Trade grew by 8.8 percent; and Services grew by 7.5 percent.
Of the 50 largest cities, the biggest percentage increases for the first quarter of 2004 were Beach, up 85.7 percent; Watford City, up 57.4 percent; Wishek, up 56 percent; Bowman, up 33.1 percent; and Casselton, up 30.7 percent.
The biggest percentage first quarter decreases for the 50 largest cities, were in Ellendale, down 11 percent; Cavalier, down 10.6 percent; Park River, down 8.6 percent; Lisbon, down 5.5 percent; and Harvey down 1.2 percent.
Counties with the highest percentage increases were Golden Valley, up 84.6 percent; McKenzie, up 52.1 percent; Kidder, up 46 percent; McIntosh, up 43.2 percent; and Renville, up 33.5 percent.
The counties with the biggest percentage decreases were Burke, down 10 percent; Slope, down 6.3 percent; Wells, down 5.8 percent; Sheridan, down 5.4 percent; and Hettinger, down 4.8 percent.
Complete North Dakota Sales and Use Tax Statistical Reports from First Quarter 2004 can be accessed on the web at: www.nd.gov/tax/