N.D. sales defy national slump

FARGO (AP) — As most of the nation toils in a lingering economic downturn, people in oil-rich North Dakota continue to keep plugging along — and heading to the mall.

State Tax Commissioner Cory Fong reported Tuesday that retail sales — considered to be a measure of consumer confidence — showed taxable sales and purchases grew in the first quarter of this year by $71 million, or 8.25 percent, compared with the same period in 2009.

“It’s very encouraging, especially given what’s going on with the rest of the country and the national recession,” Fong said.

The state’s total taxable sales and purchases for the first quarter grew by 2.65 percent over the previous year, from $2.53 billion to $2.6 billion. The largest percentage jump was in construction, which grew 16 percent.

Fong attributed the state’s economic stability in part to the expansion of oil drilling and strong farm equipment sales.

Tags: nd business, business, sales, economy