Sales of new municipal bonds remained severely depressed in November, dropping 44% to $10.57 billion from $18.94 billion a year earlier, according to figures compiled from Securities Data Co.'s database.

November sales brought the year's new-issue volume to $151.21 billion, down 43% from the record $265.64 billion sold from January through November of 1993 and the lowest total for the first 11 months since 1990, when $113.39 billion was issued. However, this year's total is still the fourth largest January-to-November volume on record, surpassed only by last year's record, the $212.21 billion in 1992, and the $154.02 billion in 1991.

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