Business and Finance
MAY STORES proposed to acquire Associated Dry Goods in a stock swap valued at $2.7 billion. A merger of St. Louis-based May and New York-based Associated would create one of the largest retail chains in the country.</br></br>GNP growth has slowed to a lackluster 2.3% rate in the current quarter despite increased consumer spending, a Wall Street Journal survey of economists shows. Doubts are growing that the economy will pick up soon.</br></br>---</br></br>Consumer prices rose slightly last month, suggesting inflation will remain moderate for the year. The 0.2% increase in May, which followed three months of declines, reflected a slight rebound in energy prices.</br></br>---