Chart 2: A number of signs point to economic recovery in the U.S.

Chart 2A: Employment Growth

Year Month Annualized Growth in Payroll Employment
2001 January 0.6%
2001 February 1.5%
2001 March 0.5%
2001 April -1.5%
2001 May 0.4%
2001 June -0.9%
2001 July 0.2%
2001 August -0.5%
2001 September -1.5%
2001 October -4.1%
2001 November -3.2%
2001 December -1.0%
2002 January -1.2%
2002 February 0.6%
Source: Bureau of Labor Statistics

Chart 2B: Consumer Confidence

Year Month Consumer Confidence Index (1985=100)
2001 January 115.7
2001 February 109.2
2001 March 116.9
2001 April 109.9
2001 May 116.1
2001 June 118.9
2001 July 116.3
2001 August 114.0
2001 September 97.0
2001 October 85.3
2001 November 84.9
2001 December 94.6
2002 January 97.8
2002 February 94.1
2002 March 110
Source: The Conference Board

Chart 2C: Manufacturing

Year Month PMI Index (50+ Shows Expansion)
2001 January 41.7
2001 February 42.0
2001 March 43.2
2001 April 43.2
2001 May 42.3
2001 June 44.3
2001 July 43.9
2001 August 47.9
2001 September 46.2
2001 October 39.5
2001 November 44.7
2001 December 48.1
2002 January 49.9
2002 February 54.7
Source: National Association of Purchasing Management

Chart 2D: Housing Starts

Year Month Monthly Housing Starts, Annualized
2001 January 1,666
2001 February 1,623
2001 March 1,592
2001 April 1,626
2001 May 1,610
2001 June 1,634
2001 July 1,660
2001 August 1,559
2001 September 1,585
2001 October 1,518
2001 November 1,616
2001 December 1,602
2002 January 1,721
2002 February 1,769
Source: Bureau of the Census