Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, November 16, 1993 TAG: 9311250336
SECTION: BUSINESS PAGE: B6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
NEW YORK - Early-November car sales maintained the strength seen in October, suggesting that the auto sector will remain an important impetus to U.S. economic growth during the fourth quarter, economists said Monday.
Car sales were running at a 7.0 million-unit annual sales pace for the first 10 days of November, when economists had forecast a sales pace of 6.8 million units.
Early-November light truck sales also were strong, posting a 5.4 million-unit rate, up from the 5.1 million that economists expected.
As the new model year started in October, car and truck sales took a definite turn for the better. October car sales rose to a 7.1 million-unit annual rate from 6.6 million in September, and trucks came in at a 5.4 million-unit pace, up from 4.7 million in September.
Knight-Ridder/Tribune
U.S. coal output rises 3 percent
CHARLESTON, W.Va. - Domestic coal production totaled 19 million tons during the week ending Nov. 6, up 3 percent from the 18.4 million tons produced the previous week, the U.S. Department of Energy reported Monday. The U.S. coal industry produced 19.4 million tons in the same week last year. Domestic coal production so far this year is 809 million tons, about 5 percent behind last year's production at this time.
Associated Press
Kraft division to buy Bulgarian candy maker
Philip Morris Companies Inc. said Monday its Kraft Jacobs Suchard division has agreed to acquire an 80 percent stake in Bulgaria's state-owned candy and chocolate maker, Republika Confectionery Co.
The agreement calls for Kraft Jacobs Suchard to invest $16 million to modernize the company's factory in Svoge, Bulgaria. The 20 percent of Republika not acquired by Kraft will be sold to the Bulgarian company's employees.
Associated Press
by CNB