BISMARCK, N.D. (AP) - Taxable sales and purchases in North Dakota totaled $17.3 billion in 2016, down 24 percent from the previous year.
Tax Commissioner Ryan Rauschenberger (RAW’-shuhn-bur-gur) cites the oil industry slump and low farm commodity prices for the decrease.
He says the 2016 figures are comparable to pre-oil boom levels.
Taxable sales and purchases are a key indicator of economic activity in the state. The mining and oil extraction sector had the biggest drop for the year with a 60 percent decrease.
The arts, entertainment and recreation sector was the only one to post an increase from 2015 to 2016, up 8 percent.
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