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Meanwhile, in record stores, cassette single sales jumped 500% in the first half of 1989 compared with the same period last year, but overall the U.S. record industry posted just a slight gain. Figures released this week by the Recording Industry Assn. of America covering the first half of the year show a dollar gain of just .52% to $2.97 billion. The cassette single went from more than 5 million sold during January-June 1988 to 32 million in the first half of 1989. Vinyl continued its rapid decline (LP sales fell about 60%, from 43 million units to just 17 million), while CDs continued to rise (70 million to more than 96 million) and cassette albums rose slightly to 211 million units. Still, a hot fall and anticipated busy holiday season are expected to turn the year into the music business’s best ever.
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