Chart 2. The title is "Manufacturing orders have been trending up for more than a year".

Between 1999 and 2004, new orders received by manufacturers have fluctuated greatly. In 1999, business was up at an index value of 53 of 73. That value peaked at 63.5 in late 1999, but then began a steady decline to 38.1 as the recession of 2001 hit. New orders indices grew with some fluctuation, however, throughout the recession of 2001, and by early 2002, were at a value of 64.4. Values then dropped until 2003 when they rose again and peaked at a value of 60 in 2003. After dropping to a value of 45.9 in the middle of 2003, new order indices have risen to at 65.7 in the second quarter of 2004.