U.S. industrial production and capacity utilization numbers were released today. The numbers show that the U.S economy was is a protracted slowdown before Tuesday’s tragedy.

Industrial production dropped a greater-than-expected 0.8% in August. The decline was broad-based, with only electric utilities advancing, notes BMO Nesbitt Burns. Manufacturing production also showed renewed weakness, it says, falling 0.9%, after a slight advance in the prior month.

BMO notes that high-tech categories continue to post significant declines, as production has dropped in each month of this year. And, the auto sector also slumped, after offering strength earlier this year.

Capacity utilization also fell to a below-consensus 76.2% from 76.9%, the lowest level of factory use since July 1983. “With plant shutdowns in response to the terror attacks in New York and Washington, utilization will likely drop further,” says BMO.

“Although the August manufacturing NAPM gave hope that manufacturing activity was bottoming, production has not stemmed its decline,” concludes BMO. “The terror attacks will limit activity for months before there is any possibility of a return to normalcy, leaving the Fed open to do what is necessary to support the economy and the financial system.”