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Data: ISM, Investing.com; Chart: Andrew Witherspoon/Axios

The U.S. has managed to largely avoid the slump that has hit manufacturing industries this year, but May's reading of both the IHS Markit and ISM PMI numbers shows luck may be running out quickly.

Threat level: The IHS Markit manufacturing index hit its lowest since September 2009, holding just above a level indicating the sector is shrinking, which it hasn't done since the financial crisis.

  • The ISM manufacturing index showed U.S. industry slowed to its weakest pace since October 2016.

The big picture: A reading on global PMI released Monday showed manufacturing is falling into contraction for the rest of the world.

  • "Business conditions deteriorated to the greatest extent in over six-and-a-half years, as production volumes stagnated and new orders declined at the fastest pace since October 2012," representatives from IHS Markit and JPMorgan, who jointly produce the survey, said in a statement.

The bottom line: May marked the 9th straight month manufacturing growth has contracted. Business optimism fell to its lowest level since future activity data were first collected in July 2012.

Go deeper: China's manufacturing rises as U.S., Japan and Europe fall

Go deeper

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15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
7 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.