Data: Institute for Supply Management; Chart: Axios Visuals

U.S. services businesses saw their steepest drop in activity in April since the Great Recession with the Institute for Supply Management’s non-manufacturing index falling to 41.8, its lowest reading since March 2009.

Yes, but: The survey's prices paid index jumped to its highest since January and firms said they had seen the highest percentage of price increases since May 2018.

  • Why it matters: Despite the destruction in overall demand and waves of job losses, prices are not only holding firm — they are rising.

But, but, but: ISM's data shows price increases have been largely in the health care sector where the coronavirus pandemic has increased shipping costs as demand has skyrocketed and the number of flights, largely from China, carrying medical supplies has plunged.

  • The price increases also were noted in other areas, however, such as cleaning products, disinfectants and alcohol.

What's next: "When we come out of this lockdown, I don’t project or anticipate a V-type recovery, so I don’t know how prices will correlate to demand levels," Anthony Nieves, chair for ISM's non-manufacturing business survey committee, said during a call with reporters.

Go deeper: The coronavirus pandemic is hitting Main Street

Go deeper

Aug 7, 2020 - Health

Massachusetts pauses reopening after uptick in coronavirus cases

Gov. Charlie Baker at Boston MedFlight Headquarters on Aug. 4. Photo: David L. Ryan/The Boston Globe via Getty Images

Massachusetts Gov. Charlie Baker announced Friday that the state's second phase of reopening is "postponed indefinitely" in response to a modest increase in coronavirus cases.

The big picture: The state is reporting more COVID-19 deaths than most others across the U.S. outside of domestic epicenters like California, or previous hotspots including New Jersey and New York, per a New York Times database.

Updated 5 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Australian officials in Victoria announced Sunday 17 more deaths from COVID-19 — a new state and national record.

The big picture: Australia was on track to suppress the novel coronavirus in May, but cases have been spiking in Victoria in recent weeks, where a state of disaster was declared last week, enabling officials to introduce restrictions including a night-time curfew in state capital Melbourne.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 19,648,084 — Total deaths: 727,024 — Total recoveries — 11,941,723Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 4,998,105 — Total deaths: 162,425 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid — Democrats, and some Republicans, criticize the move
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.