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BRIEFLY

Economy

July 16, 1993|From Times Staff and Wire Reports

Sales Surpass Inventory Growth: Business sales grew 0.3% in May, outpacing a modest 0.2% growth in inventories and assuring analysts that stockpiles are being held in check. The Commerce Department said business sales totaled a seasonally adjusted $586.9 billion in May, up from $584.9 billion a month earlier. April sales, originally estimated to have fallen 0.2%, were revised to a 0.2% gain. Inventories totaled a seasonally adjusted $864.3 billion, up from $862.5 billion in April and the eighth straight increase.

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