The graph shows percent change in industrial production and new orders in industry, compared to previous month, at an annual rate. The figures are calculated in constant prices, seasonally adjusted and smoothed by estimation of the trend cycle.
Industrial production index is a measure of the production of goods and services in industry, and can be seen as an indicator of the state of the industrial part of the economy. New orders can be seen as a leading indicator of industrial production index.
More about seasonal adjustment
Reporting the rate of change