Representing 65% of the GDP,
Industrial Production Fell Year-to-Year for the Fourth-Straight Quarter

Outside of Formal Recessions, Two-or-More Consecutive Quarters of Annual Decline
are Unprecedented in the 98-Year History of the Production Series

September Monthly Production Gains Reflected No More than
Downside Revisions to August and Before

Weaker than Initial August Reporting, September Production Was
Down by 1.42% (-1.42%) from Its Pre-2007 Recession High;
Down by 2.31% (-2.31%) from Its One-Month, November 2014 Recovery

September Manufacturing Was Down 6.28% (-6.28%) from
Its Never-Recovered Pre-Recession Peak

Domestic Oil and Gas Exploration Collapse Tentatively Appears to be
Bottoming, in the Context of Bottoming of Oil Prices