THE ECONOMY

Machine Tool Orders Fall: Orders for U.S.-made machine tools, a widely watched barometer of future industrial activity, fell 8.5% in October after healthy gains in the previous month. The Assn. for Manufacturing Technology said orders fell to $258.5 million from $282.6 million in September. But the October orders were up 25% from the same month in 1992. Year-to-date orders were running 29.5% ahead of the same 10 months of 1992 at $2.74 billion. A spokesman for the McLean, Va.-based association said the year would probably be the industry’s best since 1988. The monthly report covers metal-cutting and metal-forming machine tools. Increasing orders can, over time, signal that manufacturers are confident orders for their products are on the rise.