Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: VCG/VCG via Getty Images

Surveys showed global manufacturing, the lifeblood of many of the world's economies, was flat in March — the first time it has not fallen since April 2018.

"The steady result was achieved in no small part thanks to a better performance from China. China led a regional divide, with northeast Asia generally improving. While in contrast, Central Europe was notably weak, and North American manufacturing, at least based off the PMIs, was also losing some growth momentum, most especially in Canada and Mexico."
— Alan Ruskin, chief international strategist at Deutsche Bank, wrote in a note to clients.
  • China's manufacturing sector returned to growth in March, with its purchasing managers index rising above 50, after 4 months of contraction.
  • In the U.S., the rate of expansion in manufacturing was the weakest since June 2017. "A futher deterioraton in the manufacturing PMI suggests the factory sector is acting as an increasing drag on the US economy," said Chris Williamson, Chief Business Economist at IHS Markit, which released the study.
  • Japan's Nikkei-Markit manufacturing PMI for March capped the worst quarterly performance in the sector since the second quarter of 2016. Another study, the Bank of Japan's quarterly survey of major companies, found confidence had its biggest drop in more than 6 years.
  • Eurozone manufacturing readings were much worse than expected last month, as factory activity contracted at the fastest pace in nearly 6 years. However, the metric remained in positive territory.

Go deeper

Erica Pandey, author of @Work
1 hour ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.

Trump gives Biden access to presidential intelligence briefings

Photo: Mark Makela/Getty Images

The Trump White House on Tuesday gave President-elect Biden access to daily presidential intelligence briefings, a source familiar with the matter tells Axios.

Why it matters: Trump has refused to share the briefs until now, as he continues to challenge the result of the election and declines to concede. The president's acquiescence comes as another sign that the transition to a Biden administration is taking place.

AOC and Ilhan Omar want to block Biden’s former chief of staff

Reps. Ilhan Omar and Alexandria Ocasio-Cortez. Photo: Brendan Smialowski/Getty Images

Reps. Alexandria Ocasio-Cortez and Ilhan Omar are boosting a petition against Joe Biden nominating his former chief of staff to a new role in his administration, calling Bruce Reed a "deficit hawk” and criticizing his past support for Social Security and Medicare cuts.

Why it matters: Progressives are mounting their pressure campaign after the president-elect did not include any of their favored candidates in his first slate of Cabinet nominees, and they are serious about installing some of their allies, blocking anyone who doesn't pass their smell test — and making noise if they are not heard.