Midday Report: Industrial Production Down.

<p style="margin-bottom:0in;font-weight:normal;">This was way out of line with anything that economists had expected. They actually expected that Industrial Production in America grew in August. </p> <p style="margin-bottom:0in;font-weight:normal;">This becomes important because Industrial Production is one of the key components that economists use in forecasting the future course of our economy. Right now, the estimates are in the 5% growth range. </p> <p style="margin-bottom:0in;font-weight:normal;">But that groan you hear in the background is economists around the country going back to their spreadsheets and once again lowering their forward estimates. </p>