Table 8 DIFFUSION INDEXES OF INDUSTRIAL PRODUCTION Percent Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. ------------------------------------------------------------------------------------------------------- One Month Earlier 1998 56.2 51.4 51.1 50.9 49.6 41.7 53.6 52.5 48.6 55.1 48.2 50.0 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 42.4 40.9 Three Months Earlier 1998 63.4 56.9 61.2 56.9 59.4 46.7 50.0 49.6 54.0 55.4 48.6 50.7 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 43.8 44.6 Six Months Earlier 1998 65.6 65.2 64.9 61.2 60.5 56.5 56.2 56.9 52.2 54.0 50.0 50.0 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 44.6 40.6 ------------------------------------------------------------------------------------------------------- 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.