The first graph, called Job Growth Has Resumed, shows annualized growth in payroll employment from January 2001 through April 2002. In 2001, growth rose close to 2 percent in February but sank to about minus 1.5 percent in March; it rose and fell erratically until June and then dipped to a low of minus 4 percent in October. From that point it began to climb, reaching 0 percent in February 2002 and 0.5 percent in April.
The second graph, called Consumer Confidence Rebounds, shows the Consumer Confidence Index from January 2001 through April 2002. (1985 equals 100.) In 2001, the index was 115 in January and varied between 115 and 110 until August. It plunged to 85 in October and November but then began to climb. By March 2002, it had reached 110.
The third graph, called The Manufacturing Sector Is Expanding, shows the PMI Index from January 2001 through April 2002. (50 plus shows expansion.) In 2001, the PMI Index was 42 in January and had reached 47 by September. It fell to 39 in October but climbed to 50 by January 2002. By April 2002, it had reached 55.
The fourth graph, called Housing Starts Remain Robust, shows the annualized six-month moving average of monthly housing starts from January 2001 through April 2002. In 2001, housing starts were about 1,500 in January; they rose steadily to about 1,620 in July. They declined to about 1,570 in December. In 2002, they climbed to about 1,650 by April.