Table 8
 DIFFUSION INDEXES OF INDUSTRIAL PRODUCTION
 Percent
 
 Year       Jan.    Feb.    Mar.    Apr.     May    June    July    Aug.   Sept.    Oct.    Nov.    Dec.
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 One Month Earlier
  1997     55.2    66.8    57.5    53.4    55.2    57.1    57.2    52.4    55.4    55.8    62.5    52.1 
  1998     56.6    48.7    50.7    51.5    51.3    39.0    50.6    50.2    43.8    54.7    49.1    48.3 
  1999     47.6    52.8    49.8    57.7    53.6    49.8    57.1    52.8    48.7    62.5    53.0    55.4 
 
 Three Months Earlier
  1997     54.5    68.3    61.2    66.4    56.0    58.6    61.9    64.2    61.9    59.9    62.9    62.2 
  1998     62.2    52.8    55.4    53.9    54.7    43.1    44.6    39.3    47.6    51.3    49.8    52.4 
  1999     50.9    54.3    51.3    56.2    52.8    52.4    53.9    59.6    52.1    57.7    58.4    61.4 
 
 Six Months Earlier
  1997     63.1    67.9    64.2    62.7    63.2    68.3    69.1    61.5    66.8    70.6    70.9    65.7 
  1998     63.3    64.8    58.1    58.4    55.8    49.1    48.3    47.9    48.3    52.8    47.6    50.2 
  1999     54.3    50.9    55.8    52.4    54.3    55.1    56.2    50.6    54.3    59.9    59.6    60.3 
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 Note:  The diffusion indexes are calculated as the percentage of series that increased over the indicated
        span (one, three, or six months) plus one-half the percentage that were unchanged.