THE ECONOMY
From Times Staff and Wire Reports
Business Inventories Continue Rise: In the latest sign of the economy’s health, businesses are continuing to stockpile goods at a solid pace, indicating that they anticipate strong sales. The Commerce Department reported that business inventories rose in October for the seventh consecutive month, posting a 0.4% advance. Sales, which slipped 0.2% in September, rebounded and gained 0.2%. But some economists said they are concerned that rising interest rates mean trouble ahead. “The question is whether additional interest rate increases will slow consumer and business spending enough to cause production declines,” said Ron Schreibman of the National Assn. of Wholesaler-Distributors.
