Illustration: Rebecca Zisser/Axios

Tuesday's dramatic slide in U.S. manufacturing to the weakest level in 10 years generated jarring headlines and spooked the market, but there are signs the sector is improving on a global level.

Why it matters: Even in the U.S., things may not be as bad as the Institute for Supply Management's grim Tuesday report would suggest.

Between the lines: A survey of global manufacturing data from IHS Markit Tuesday showed that though the sector remains in contraction, the index rose for the second straight month.

  • Further, IHS Markit's U.S. manufacturing index showed "a marginally faster rate of improvement in the health of U.S manufacturing" and the highest reading in 5 months.
  • China, the world's No. 1 trading nation, looks to have recovered from weak readings earlier this year, which should help boost factory activity in the moribund eurozone and around the globe.
  • Emerging markets also have seen a solid reprieve with IHS' broad metric of EM manufacturing rising in September for a third consecutive month.

The last word: "The data provides no room for complacency, but is not quite as bleak as the ISM data suggests," Alan Ruskin, chief international strategist at Deutsche Bank, said in a note to clients.

Go deeper

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 31,1833,800 — Total deaths: 962,793— Total recoveries: 21,348,410Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 6,833,800 — Total deaths: 199,818 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

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