Midday Report: Industrial Production Down.

This was way out of line with anything that economists had expected. They actually expected that Industrial Production in America grew in August.

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.

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.