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Data: FRED and Investing.com; Chart: Naema Ahmed/Axios

Surveys tracking the sentiment of U.S. manufacturers have surged back to their 2019 levels, showing a V-shaped recovery in the industry — but the hard numbers for sales and shipments tell a different story.

What's happening: Highly tracked purchasing managers' indexes from the Institute for Supply Management and IHS Markit have surged in recent months to show growth in the industry.

  • But those indexes simply ask companies whether things are getting better, worse or staying the same.

By the numbers: The real value of U.S. goods exports in July was the lowest since November 2010, and the value of goods and services exports in Q2 was the lowest since Q1 2010, according to the latest U.S. Census and GDP reports.

Go deeper

Dion Rabouin, author of Markets
Sep 8, 2020 - Economy & Business

Possible restrictions on Chinese chip exports could do harm to U.S. growth

Data: U.S. Bureau of Economic Analysis; Chart: Axios Visuals

The Trump administration's trade war with China and the coronavirus pandemic have crippled U.S. exports this year and could worsen as the administration reportedly is considering export restrictions on China’s most advanced manufacturer of semiconductors.

Where it stands: The U.S. trade deficit has risen to its highest since July 2008 and U.S. exports of goods and services as a percentage of GDP shrank to the lowest level since 2003 in the second quarter.

16 mins ago - Podcasts

How hospitals are prepping for the new COVID-19 surge

Coronavirus cases and hospitalizations are surging, particularly in areas that had been largely spared this spring. One big question now is whether hospitals are better prepared for this new wave, including if they'll be able to continue providing elective services.

Axios Re:Cap digs into what hospitals have, and what they still need, with Lloyd Dean, CEO of CommonSpirit Health, one of America's largest operators of hospitals and health clinics.

Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — U.S. sets new single-day case record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local cases.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.