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Taxable Sales and Purchases Decline Continues for Third Quarter

FOR IMMEDIATE RELEASE
Thursday, January 12, 2017

Contact: Kathy Strombeck, Supervisor, Research & Communication, 701.328.3402
Jen Raab, Public Information Officer, 701.328.3039

Taxable Sales and Purchases Decline Continues for Third Quarter

Bismarck, N.D. – Tax Commissioner Ryan Rauschenberger today released the 2016 third quarter taxable sales and purchases report.  Taxable sales and purchases were $4.625 billion for July, August and September of 2016, a drop of nearly 20 percent over those months in 2015.  

“With continuing lower commodity prices in the agriculture and oil industries, we anticipated that third quarter taxable sales and purchases would show a decline,” stated Rauschenberger.  “We should begin seeing our year-to-year comparisons level off and a new normal emerge soon.” 

Rauschenberger pointed out that $4.625 billion is closer to what the third quarter taxable sales and purchases was just six years ago.

The third quarter report includes data for the largest 50 cities in North Dakota, and all 53 counties. Of the 50 largest cities in North Dakota, the highest percent increases (compared to the third quarter of 2015) were Ellendale, Beulah, Wahpeton and Cando. Counties with the highest percent increases (compared with the third quarter of 2015) were Sioux, Mercer, Towner and Oliver.

Just one of the 15 major industry sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. The construction sector increased by 3.76 percent (increase of more than $10 million).

The most notable industry sector decreases were the mining and oil extraction sector with a decrease of 53 percent (decrease of $347.6 million) and the wholesale trade sector with a decrease of 30 percent (decrease of nearly $415 million) compared to the same months in 2015.

###

2016 Third Quarter Taxable Sales and Purchases Report

Charts:
ND Total Taxable Sales & Purchases $ Changes_3rd Quarter
ND Taxable Sales Purchases by Industry 3rd Quarter

nd.gov - The Official Portal for North Dakota State Government
North Dakota: Legendary. Follow the trail of legends

Ryan Rauschenberger
Tax Commissioner
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News

Sign up to receive new releases via email.  Select the "ND Tax News" list.

 

Taxable Sales and Purchases Decline Continues for Third Quarter

FOR IMMEDIATE RELEASE
Thursday, January 12, 2017

Contact: Kathy Strombeck, Supervisor, Research & Communication, 701.328.3402
Jen Raab, Public Information Officer, 701.328.3039

Taxable Sales and Purchases Decline Continues for Third Quarter

Bismarck, N.D. – Tax Commissioner Ryan Rauschenberger today released the 2016 third quarter taxable sales and purchases report.  Taxable sales and purchases were $4.625 billion for July, August and September of 2016, a drop of nearly 20 percent over those months in 2015.  

“With continuing lower commodity prices in the agriculture and oil industries, we anticipated that third quarter taxable sales and purchases would show a decline,” stated Rauschenberger.  “We should begin seeing our year-to-year comparisons level off and a new normal emerge soon.” 

Rauschenberger pointed out that $4.625 billion is closer to what the third quarter taxable sales and purchases was just six years ago.

The third quarter report includes data for the largest 50 cities in North Dakota, and all 53 counties. Of the 50 largest cities in North Dakota, the highest percent increases (compared to the third quarter of 2015) were Ellendale, Beulah, Wahpeton and Cando. Counties with the highest percent increases (compared with the third quarter of 2015) were Sioux, Mercer, Towner and Oliver.

Just one of the 15 major industry sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. The construction sector increased by 3.76 percent (increase of more than $10 million).

The most notable industry sector decreases were the mining and oil extraction sector with a decrease of 53 percent (decrease of $347.6 million) and the wholesale trade sector with a decrease of 30 percent (decrease of nearly $415 million) compared to the same months in 2015.

###

2016 Third Quarter Taxable Sales and Purchases Report

Charts:
ND Total Taxable Sales & Purchases $ Changes_3rd Quarter
ND Taxable Sales Purchases by Industry 3rd Quarter

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