Since the private survey adds fuel to fears that the U.S.-China trade war, which is deeply hurting Beijing which for years have exploited western technologies and economic policies to its benefits, is hurting the U.S. economy, one will have to dig deeper as to who commissioned the private survey.

According to the results of a private survey, U.S. manufacturing industries saw a contraction in nearly a decade.

The survey comes midst concerns whether the U.S.-China trade war will lead the U.S. economy into a recession.

According to a statement from IHS Markit, 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.”

Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy, Sustainability

Tags: conflict, contracting, contraction, decade, domestic, economy, factory activity, manufacturing industries, manufacturing sector, preliminary measure, private survey, recession, trade, U.S, U.S. China, United States, war