August 22, 2019 / 1:56 PM / 4 months ago

MONEY MARKETS-U.S. rates futures pare losses as factory sector contracts

NEW YORK, Aug 22 (Reuters) - U.S. interest rates futures trimmed their earlier losses on Thursday as a private survey showed the domestic factory sector posted a monthly contraction for the first time in almost a decade, kindling worries about a recession.

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 in July.

A reading below 50 means the manufacturing sector is contracting. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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