North Dakota taxable sales grew 8.4 percent in 2006

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North Dakota's taxable sales and purchases totaled nearly $9.3 billion last year, an increase of 8.4 percent from 2005, the state Tax Department said.

Retail trade, which is the biggest sector of North Dakota's economy, grew 5.8 percent to $3.8 billion during the year, the Tax Department said in a report issued Thursday.

The overall growth rate was more than double the rate of inflation, Tax Commissioner Cory Fong said.

"This year-end report is the culmination of 15 consecutive quarters of growth, going as far back as the middle of 2003," Fong said. "It is another signal that our economy in North Dakota is on a steady growth pattern, and has been for quite some time."

Taxable sales and purchases attributed to the mining and oil sector rose 45.4 percent during the year, the Tax Department said.

Construction grew 19.8 percent, while finance, insurance and real estate rental and leasing grew 19.6 percent.

- Associated Press

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