August 22, 2019 / 1:56 PM / 2 months ago

U.S. factory sector contracts for first time in a decade: IHS Markit

NEW YORK (Reuters) - U.S. manufacturing industries recorded their first month of contraction in almost a decade amid concern about whether the U.S.-China trade conflict would tip the economy into a recession, a private survey showed on Thursday.

IHS Markit said its “flash” or preliminary measure on domestic factory activity fell to 49.9 in August, its lowest level since September 2009. This compared with a final reading of 50.4 the month before.

A reading below 50 means the manufacturing sector is contracting.

The survey’s “flash” gauge on new orders for U.S. manufactured goods fell to 49.5, the lowest level since August 2009. This was lower than a final July figure of 51.7.

Reporting by Richard Leong, Editing by Chizu Nomiyama

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