Table 9
 Diffusion Indexes of Industrial Production
 Percent
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 Year       Jan.    Feb.    Mar.    Apr.     May    June    July    Aug.   Sept.    Oct.    Nov.    Dec.
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 One Month Earlier
  1999     53.6    56.5    55.4    59.4    55.1    50.7    58.2    55.8    48.6    64.5    53.3    59.8 
  2000     58.7    50.4    56.5    51.4    51.4    56.2    54.2    43.5    54.0    43.5    45.7    37.9 
  2001     46.7    41.8    41.7    42.6    38.4 
 
 Three Months Earlier
  1999     52.9    56.9    56.5    56.5    55.8    58.0    56.2    63.4    58.0    62.0    58.3    62.7 
  2000     61.2    62.0    59.8    56.2    54.0    52.9    49.6    44.9    48.9    43.1    45.3    42.4 
  2001     38.9    36.8    37.7    38.6    36.2 
 
 Six Months Earlier
  1999     59.1    53.3    56.2    54.3    58.0    59.8    60.1    60.1    61.6    67.4    62.7    62.7 
  2000     68.1    65.9    68.1    64.1    60.0    55.4    49.6    43.8    47.5    44.9    41.7    39.5 
  2001     40.9    38.0    35.1    33.7    31.5 
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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.