ECONOMY

Machine Tool Orders Increase: Manufacturers’ orders for machine tools rose 7.8% in January over the previous month, extending 1993’s gains and signaling brisk investment in U.S. manufacturing. The Assn. for Manufacturing Technology reported that machine tool orders rose to $356.05 million in January from $330.35 million in December. Compared to the same month a year earlier, orders were up almost 103% from $175.55 million. Orders for machine tools, considered an indicator of future economic activity, ended the year at a five-year high and are forecast to increase in 1994 and 1995. The demand for machine tools is largely due to renewed strength in the manufacturing sector.