ECONOMY

Machine Tool Orders Drop in May: Orders for U.S. machine tools plunged in May, though they were higher for the first five months of 1992 than depressed year-earlier levels, the industry said. Economists said the figures Sunday from the Assn. for Manufacturing Technology appeared to reflect a broader pattern of mixed signals that have characterized the weak U.S. recovery. The trade group said preliminary May orders for machine tools totaled $159.1 million, a 27.5% drop from the previous month but 4% above the May, 1991, figure. On a year-to-date basis, orders totaled $1.06 billion, a 5.8% increase over the January-May, 1991, orders.