ECONOMY

Machine Tool Orders Fall: July orders for U.S.-manufactured machine tools declined 14.6% from the previous month, to $344.75 million but remained substantially above year-ago levels, according to the Assn. for Manufacturing Technology. Machine tool orders through July of this year are running 23.6% higher than for the seven-month period in 1993. Orders of machine tools are considered an indicator of future manufacturing and economic activity.