OTHER NEWS - Dec. 3, 1993

Spending Rises 0.8% in October; Home Sales Strong Consumer spending rose a healthy 0.8% in October, and the number of new claims for unemployment benefits dipped in the most recent week reported, the government said. The 0.8% increase in consumer spending in October--the biggest monthly gain since May--was fueled by a 0.6% advance in personal income, the Commerce Department said. La Jolla-based Dataquick Information Systems said new home sales in Southern California dropped 9% from their torrid September levels but were still nearly twice as many as a year ago. About 4,600 new houses were sold in the six counties of Southern California in October. The total was down from 5,105 sold in September but up 90% from the anemic 2,450 sales of October, 1992. The report came on the same day several of the nation’s retailers announced mixed sales results for November. The retailers offering the best values reported the strongest sales gains. These included J.C. Penney Co., Sears, Roebuck & Co. and Wal-Mart Stores Inc. By contrast, stores that carry less essential items, such as fashion outlets The Limited Inc. and Merry-Go-Round, rang up weak sales.