Cross Timbers Business Report, Volume 1, Number 4, Summer 1987 Page: 1
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Cross imbers Business Leport
Volume 1, No. 4
City sales tax allocations show sharp increase
Sales tax allocations for the City of $45,314 through July was running 5.6 percent
Stephenville for the first seven months of 1987 above the figure for 1986 and 10. 5 percent
showed a sharp increase over previous year higher than the 1985 total.
figures according to a recent report by the State Eastland's cumulative allocations of
Comptroller. Other area cities noted mixed $171,789 for this year were 9.5 percent below
allocation patterns with two showing increases those of the same span last year and 9.9 percent
and two nothing declines, less than the 1984 figure. Hamilton noted
Stephenville has received checks total- allocations of $69,601 through July. This total
ing $615,756, in allocations during the first was 12.1 percent less than the year before and
seven months of 1987. This represents growth 3.7 percent below the same span two years ago.
of 13.5 percent over last year's pace and 11.7 CONSWiMER PRICE INDEX
percent over the figures for the comparable .._ . '-=-:'
period two years ago.
Comanche received $111,363 in alloca-
tions through the first seven months of this --
year. This total was 3.5 percent higher than the -
comparable period in 1986, but was 6.2 percent --
below the aggregate for the same span two years - ........
ago. Dublin, with cumulative allocations of -= -
Consumer Price Index ..-
confirms inflation rise
Second quarter movements in the Con-
sumer Price Index confirm fears that inflation is
worsening in 1987. Prices increased at an
annual rate of 5.4 percent in the first six months
of this year. While few economists predict a
return to double digit inflation patterns of the
1970's, this year's pace is significantly faster
than last year's 1.1 percent growth rate.
Probably the major factor contributing
to this acceleration is a rebound in energy prices
whose earlier price declines contributed greatly
to the stable price pattern of the past two years.
Last quarter's price advance was broadly based
as generally strong consumer demand com-
bined with a weakening of the dollar in foreign
exchange markets to push up prices in virtually
all good and service categories.
The value of the Consumer Price Index,
which measures price changes for a market
basket of approximately 400 goods and services
Judged "typical" purchases of urban consumers,
increased at annual rates of 6.4 percent in April,
3.6 percent in May and 5.0 percent in June. At
mid-year the CPI stood at 340.1, with 1967 as
the base year. This roughly translates to a
basket of goods which cost $100 in 1967 costing
$340.10 in June 1987.
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GNP continues growth
Real Gross National Product, the infla-
tion adjusted measure of the nation's output of
goods and services continued its vacillating
growth pattern of recent periods as a small
second quarter increase followed a strong ad-
vance in the previous period.
The most recent report of the Depart-
ment of Commerce indicates that this compre-
hensive measure of national production in-
creased at an annual reate of 2.6 percent in the
second quarter following a revised 4.4 percent
growth in the previous period.
The second quarter advance was broadly
based as increases were reported in personal
consumption expenditures, nonresidential in-
vestment, and net exports. Government expen-
ditures for goods and services was the only
sector reporting a decline. The implicit price
deflator, which is used to adjust GNP for price
changes increased at a 3.8 percent rate in the
second quarter. This followed a rise of 4.2
percent in the previous three months.
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Tarleton State University. Department of Social Sciences. Cross Timbers Business Report, Volume 1, Number 4, Summer 1987, periodical, Summer 1987; Stephenville, Texas. (texashistory.unt.edu/ark:/67531/metapth298176/m1/1/: accessed May 27, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Tarleton State University.