JAPAN

Machine Tool Orders Rise: Year-over-year orders rose for the first time since November, 1990. Total orders climbed 3.6% on the year in June to $491 million, the Japan Machine Tool Builders Assn. said. Most of the boost came from surging overseas demand. But domestic orders, although down 5.9% on the year, seem to be pulling out of a three-year slump. In April, domestic orders had fallen 20.2%. Because machine tools are used to make machines and parts used by larger manufacturers, their fate is closely associated with that of the economy overall.