Business and Finance
LEADING INDICATORS of the economy fell 0.9% in June. Such a decline could indicate slowing economic growth. New-home sales rose 0.6% to an annual rate of 620,000 units after falling 4.5% in May. June sales were down 5.3% from a year earlier.</br></br>The U.S. dollar soared, setting records against Britain's pound and France's franc. The prospect that the dollar will remain strong indefinitely is pressuring U.S. companies to slash costs, look abroad for parts and materials and move manufacturing facilities overseas.</br></br>---</br></br>ITT said it might divest itself of some businesses soon. Rand V. Araskog, chairman, also said 1984 profit would be 33% lower than 1983's. It has been speculated that Eason Oil, the Rayonier forest-products unit, Continental Baking and auto-parts companies might be sold.</br></br>---