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Expand chart
Data: Caixin, Institute for Supply Management; Chart: Andrew Witherspoon/Axios

Manufacturing industries in the U.S. and China seem to be moving in opposite directions. In October, a private company survey of China's factory activity shows it expanded for a third consecutive month, while U.S. manufacturing contracted for the third month in a row.

Why it matters: October was the largest deficit the U.S. manufacturing industry has had with China in the nearly eight-year history of the Caixin survey.

What happened: The Caixin China manufacturing index posted its highest reading since February 2017, beating economists' expectations, while the U.S. ISM manufacturing index barely edged up from its September level, which was the weakest in 10 years.

  • Caixin's survey found that the total amount of new work received by Chinese producers rose by the highest rate in about six years, prompting manufacturers to expand production. Export orders also rose by the most in five months.
  • That was likely due to the U.S. exempting hundreds of Chinese products from tariffs during the month, Caixin said in the survey.

Yes, but: Caixin's survey is mainly based on responses from 500 smaller private factories, while China's official index, which focuses on 3,000 larger manufacturers, contracted during the month.

Of note: A separate index that tracks U.S. manufacturers largely located in the American Midwest had its weakest reading in four years last month and the second lowest in a decade.

Go deeper: Business leaders spooked by Trump's manufacturing slump

Go deeper

House passes $1.9 trillion COVID relief package

Photo: Screenshot via C-SPAN

The House approved President Biden's $1.9 trillion COVID relief package on a 219-212 vote early Saturday morning, sending it to the Senate for a possible rewrite before it gets to Biden's desk.

The big picture: The vote was a critical first step for the package, which includes $1,400 cash payments for many Americans, a national vaccination program, ramped-up COVID testing and contact tracing, state and local funding and money to help schools reopen.

8 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

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  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.