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North Dakotans are spending more money, report says

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(The Center Square) – North Dakotans spent 17% more in the first half of 2023 compared to the same period in 2022, according to a report from the state tax commissioner.

Taxable sales and purchases were at $6.9 billion for April, May and June. The mining and oil extraction sector led other industry sectors with a 51.2% increase, according to the data.

“North Dakota’s energy sector once again posted the largest increase compared to other categories, said Tax Commissioner Brian Kroshus. “This is attributable to various factors including a strong demand, both at home and abroad, fewer supply-chain disruptions and heightened economic activity.”

The wholesale trade industry increased 25.2% during the second quarter.

“Through the first half of 2023 our economy continues to perform extremely well, exhibiting strong growth in taxable sales and purchases versus last year across virtually all major categories including energy and agriculture,” Kroshus. “The solid performance in quarter two is further evidence of our state’s healthy economy.”

Minot’s sales and taxable purchases are up 13% over last year, the only double-digit increase among North Dakota’s four largest cities. Bismarck’s increase is 4.7%, Fargo’s 4% and Grand Fork’s 3.6%.

New Town has the most significant increase among North Dakota cities at 115%, according to the data. The town is home to 4 Bears Casino and Lodge. McHenry County, part of the Minor metropolitan area, increased sales and taxable purchases by 74.9%.

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