ECONOMY
From Times Staff and Wire Reports
Sales of U.S. savings bonds declined 2.7% in May to $841 million after the interest rate on the bonds declined, the Treasury Department reported. Although sales were down from $864 million in April, they were still 19% higher than the $707 million sold in May, 1990. It was the best May on record since 1986, when $849 million were sold. Since May 1, the interest rate on bonds has been 6.57%. That rate will remain in effect through Oct. 31. During the previous six months, the rate was 7.19%.
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