Cross Timbers Business Report, Volume 2, Number 4, Summer 1988 Page: 1
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Cross imbers Business Report
Volume 2, No. 4
Economy healthy in second quarter
According to the latest estimate by the
Department of Commerce, Real Gross National
Product, the inflation adjusted measure of the
nation's output of goods and services, increased
at a well-balanced 3.1 percent pace during the
second quarter of 1988 after growing at a 3.4
percent rate in the first quarter. Meanwhile,
inflation as measured by the GNP deflator accel-
erated to a 4.1 percent annual rate, the fastest
GROSS NATIONAL PRODUCT
T1Ine. of 1982O odr
01r4 02 03 04 0105 02 03 04 010 e 02 03 04 0107 02 03 04 0180 02
Gross sales weak I
According to the most recent estimate by
the State Comptroller's Office 1987 gross sales
of Erath County were below the figure reported
in the previous year. Other Cross Timbers
counties also registered lower totals last year.
A precipitous drop in wholesale trade
and lesser declines in construction and retail
trade more than offset advances in manufactur-
ing; transportation and public utilities; agricul-
ture, forestry and fishing; and services, as gross
sales of Erath County totaled $265.7 million
last year. This value was 1.5 percent below the
figure for the year before, and was almost iden-
tical to the tally reported in 1985.
Elsewhere in the Cross Timbers area,
Bosque County noted a gross sales total of
$136.1 million for all of 1987. This compares to
estimates of $151.5 million for 1986 and $212.1
million for 1985. Gross sales for Comanche
County were estimated as $132.7 million last
year. This tally was 11.0 percent below the
figure for the year before and 5.9 percent less
than the total for 1985.
pace since 1984.
Economists studying the component
parts of the GNP growth found cause for opti-
mism as capital spending quickened between
the first and second quarters. The goods and
services trade balance also showed significant
progress, as exports rose while imports exhib-
ited a slight decline. Consumer spending grew
at a slower pace than in the previous quarter,
largely the result of slower new car sales. Inven-
tory investment also eased, quieting fears that
over-expansion of inventories would result in
production cutbacks in future months.
The increase in inflation came primarily
as a result of higher consumer goods prices, the
consequence of a falling value of the dollar in
foreign exchange markets; and higher foods
prices, caused by the drought in the Midwest.
Last quarter's inflation was sharply higher than
the 1.7 percent annual pace set in the first
quarter of this year.
for area counties
Eastland County noted a gross sales
deterioration from $256.5 million in 1986 to
$223.6 million last year. The 1987 figure was
also compared unfavorably to the $258.2 million
tally for 1985. In Hamilton County gross sales
dropped 15.7 percent below the 1986 level to
total $87.5 million last year. This aggregate was
17.6 percent less than the value noted two years
GROSS SALES, Area Counties
Jonuay - Oecember
Comonche Eaetland troth
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Tarleton State University. Department of Social Sciences. Cross Timbers Business Report, Volume 2, Number 4, Summer 1988, periodical, Summer 1988; Stephenville, Texas. (texashistory.unt.edu/ark:/67531/metapth298180/m1/1/: accessed January 17, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Tarleton State University.