ECONOMY

Machine Tool Orders Up in February: Orders for U.S.-made machine tools leaped to the highest level in 14 months, boosted by a brightening economy and a pickup in exports to China and Mexico, an industry trade group said. In its monthly report, the Assn. for Manufacturing Technology said new orders, both domestic and foreign, rose a huge 61.5% in February to $283.6 million from January’s $175.6 million. February orders were also up 31.1% from the $216.25 million seen a year ago and were the highest since December, 1991, when they hit $342.9 million, the biggest order total that year. The uptick in export orders, which climbed 14.5% to $39.5 million in February from $34.5 million in January, came as a surprise and gave overall tool orders a shot in the arm, the association said.