A new state report released Thursday shows North Dakota’s economy continues to grow.
Taxable sales and purchases in North Dakota totaled nearly $5.7 billion in the first quarter of 2014, a 4.4 percent increase from the first quarter of 2013, according to the state Tax Commissioner’s office.
“This is a very good report, highlighting the fact that North Dakota’s economy continues to expand on top of the rapid pace of growth in the past several years,” said Tax Commissioner Ryan Rauschenberger in a statement. “It is very good news, especially since these sales took place in the middle of a difficult winter in North Dakota.”
The 4.4 percent increase is better than the 1.6 percent increase the state saw in the first quarter of 2013 over 2012.
Grand Forks, however, saw a 1.83 percent decrease in taxable sales and purchases in the first three months of this year compared to the same period last year. There were $239.7 million worth of taxable sales and purchases in the city of Grand Forks in first quarter of 2014.
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Fargo’s numbers increased by 3.67 percent to $562.6 million, while Bismarck saw a 2.2 percent decrease to $384.5 million.
