Cross Timbers Business Report, Volume 9, Number 3, Spring 1995 Page: 1
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Cross Timbers Business Report
Published by Tarleton State University, William L. Beaty, EditorVolume 9, No. 3
Spring, 1995
Economic Expansion Slows in First Quarter
by William L. BeatyReal gross domestic product, the inflation-
adjusted measure of the nation's goods and services
output expanded at a 2.8 percent annual rate in
1995's first quarter, according to a recent report by
the Commerce Department. This expansion, which
is far below the 5 percent rise in last year's final
quarter, raises economists' hopes the current
economic expansion can be slowed sufficiently to
reduce inflationary pressures.
Residential construction registered the most
significant slowdown in the first quarter, decreasing
at a 6.7 percent annual rate. Net exports and
government spending also registered declines.
Consumption spending advanced at only a 1.4
percent annual rate, but nonresidential investment
grew at a hefty 18 percent pace. Perhaps the most
significant element of GDP's change is found in the
$63 billion expansion in business inventories.
Although this spending expands output in the
current quarter, a sharp rise in this statistic,
particularly in the face of weak sales signals
retailers to reduce purchases in future periods.
These declines can help hold spending in check for
the rest of 1995.
REAL GROSS DOMESTIC PRODUCT
Annual Change Rates
Percent1994
Source: U.S. Department of Commerce04 Q1
1 19961For more than a year the Federal Reserve has
followed a tight monetary policy in an effort to slow
economic growth and reduce inflationary pressures.
Last quarter's moderate economic growth rate may
indicate success in this effort.
COUNTIES REPORT HIGHER
SALES
by James R. Smith
Data released by the State Comptroller's Office
show a strong increase in Erath County third quarter
1994 retail trade sales compared to the previous
year. This gain combined with smaller increases in
services, agriculture, forestry, and fishing to offset
losses posted by wholesale trade, manufacturing,
construction, transportation and public utilities. As
a result, Erath county's gross sales grew by almost
6 percent over the same time period in 1993. Most
other Cross Timbers counties revealed sales
increases as well, with only Comanche county
reporting a revenue decline.
Erath county merchants posted $114.9 million
in gross sales during the third quarter of 1994. This
figure is 5.9 percent greater than the value from the
previous year and is 21.8 percent higher than the
1992 total. Erath's gross sales for the first three
quarters of 1994 totaled $339.6 million. This value
is 12.7 percent above the year before and is 32.9
percent greater than the 1992 figure.
Bosque county's $31.5 million is third quarter
sales represents an increase of 6.2 percent over the
1993 value; however, this figure is 6.0 percent lower
than the 1992 aggregate. The 1994 cumulative
sales total is $91.9 million. This figure is higher
than the $90.7 million posted the year before, but is
less than the $94.4 million collected two years
earlier.
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Tarleton State University. Department of Social Sciences. Cross Timbers Business Report, Volume 9, Number 3, Spring 1995, periodical, Spring 1995; Stephenville, Texas. (https://texashistory.unt.edu/ark:/67531/metapth298206/m1/1/: accessed May 3, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Tarleton State University.