20 states indicating recession, I haven't seen a better graphical depiction of the country's current plunge into recession than this one. This is a chart of the value of manufacturers' new orders excluding aircraft. Recessions are shaded in gray. Notice that, even without adjusting for inflation, the value of orders has never matched its 2000 high. That's because we've been in an economic depression ever since, and we're on the 3rd leg down.