|FOR IMMEDIATE RELEASE||Contact: Cory Fong, Tax Commissioner 701-328-2770|
|Thursday, December 22, 2005||Kathryn Strombeck, Research Analyst, 701-328-3402|
3rd Quarter North Dakota Taxable Sales & Purchases Tops $2 Billion
BISMARCK, N.D. – Tax Commissioner Cory Fong announced today that total taxable sales and purchases made during July, August, and September 2005 were $2.240 billion, up $161 million or 7.8 percent compared to the third quarter 2004, marking the tenth consecutive quarter of growth.
“This is a good report with all sectors reporting gains compared to the same time last year,” said Fong. “We had been uncertain what, if any, effect the hurricanes would have on our state. Even though North Dakota was a long way from the storms, North Dakotans still felt the effect at the pump. This report suggests that even with higher fuel costs consumer spending remained strong.”
The retail trade sector, the sector that is most closely linked to consumer confidence, grew by 9.3 percent when compared to the same months in 2004.
Fong said, “As we entered the fourth quarter (October), there were indicators that consumers were spending more to fill their gas tanks and heat their homes leaving less available to spend on other goods. However, early signs are that our retailers are enjoying another healthy shopping season.”
Other sectors reported growth, too, including: mining & oil extraction, up 41.9 percent, manufacturing was up by 15.6 percent, services increased by 6.8 percent, transportation, communication & public utilities increased by 6.6 percent, construction grew by 3 percent, and wholesale trade grew by 2.7 percent.
Of the 50 largest cities, the biggest percentage increases for third quarter of 2005 were: Tioga, up 35.2 percent; Hettinger up 31 percent; Williston, up 30 percent; Beach, up 23.3 percent; and Cando, up 23.3 percent.
The biggest percentage third quarter decreases for the 50 largest cities, were in Washburn, down 27.4 percent; Mayville, down 12.2 percent; Valley City, down 11.2 percent; Stanley, down 10.4 percent; and Crosby down 9 percent.
Counties with the highest percentage increases were Sargent, up 66.4 percent; Renville, up 32.3 percent; Dunn, up 30.1 percent; Burke, up 29.3 percent; and Williams, up 29.2 percent.
The counties with the biggest percentage decreases were Oliver, down 14.7 percent; Slope, down 12.5 percent; Barnes, down 12.4 percent; McLean, down 9.4 percent; and Nelson, down 8.1 percent.
To access the complete North Dakota Sales and Use Tax Statistical Report for Third Quarter 2005, visit the Tax Department’s web site at www.nd.gov/tax