Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

A worker inspects a Carhatt hat at the Industrial Sewing & Innovation Center manufacturing facility in Detroit. Photo: Emily Elconin/Bloomberg via Getty Images

More small businesses in the manufacturing sector expect to see higher sales next quarter, relative to operators in other industries.

Driving the news: A National Federation of Independent Business quarterly report released Thursday shows that a net positive 9% of small manufacturers said in July that they expected sales growth in the next 3 months.

  • That compares to a net negative of 1%, 6% and 12% of businesses in the services, retail and construction industries, respectively.

Why it matters: Among the 1,440 business responses, more manufacturers also said they plan to increase hiring.

Of those surveyed, 41% of manufacturing companies said they plan to create new jobs in the next three months — 14 percentage points higher than the overall small business economy. 

Of note: Wednesday's durable goods report highlighted a growing backlog of unfilled orders in the manufacturing sector, as we wrote about yesterday.

Go deeper

Updated Sep 14, 2021 - Axios Events

Watch: A conversation on post-pandemic recovery for Black-businesses

On Tuesday, September 14, Axios markets reporter Courtenay Brown and business reporter Hope King discussed the economic recovery of Black-owned small businesses, featuring Congressional Black Caucus Chair Rep. Joyce Beatty (D-Ohio) and U.S. Black Chambers President & CEO Ron Busby. 

Rep. Joyce Beatty addressed how the Congressional Black Caucus and Congress are working together to help Black-owned businesses in a post-pandemic era, the primary challenges that the Black-owned business community endured during the pandemic, and how unemployment rates among Black communities vary across the nation. 

  • On government efforts to provide financial relief to small businesses: “When we think about the value of the Congressional Black Caucus and how we had to work with them, many of us small business owners, I know firsthand as a former small business owner how hard it is to make payroll in a normal time. Here’s the good news: 95% of the Biden-approved PPP loans went to small businesses with 20 or less employees, and that was very helpful.” 
  • On consistently disparate unemployment rates in Black communities: “When we hear, 'Oh, unemployment has gone down and people are working,' well, those numbers were never the same for minority-owned businesses, especially Black-owned businesses. The numbers were always double, and we’re still dealing with that.” 

Ron Busby illustrated the progress of Black small businesses in post-pandemic recovery, how efforts from Federal entities and the private sector have assisted in that recovery, and what types of aid he believes are most essential in helping Black-owned small businesses thrive. 

  • On the current state of recovery for Black-owned businesses: “Businesses that are owned by African-Americans and Black people across the country are starting to feel extremely optimistic about the future, but the challenges still exist. The number one challenge for Black-owned businesses is obviously access to capital.” 
  • On adjusting government-run initiatives to better serve Black communities: “We had to go back and make sure that we adjusted those packages, those stimulus opportunities, to make sure that our Black businesses could participate. As you see new programs being rolled out, you’ll see that the US Black Chamber is there to make sure that small, diverse, and primarily Black firms are included in the conversation, as well as being included in the stimulus packages.”  

Axios SVP of Events & Creative Strategy Kristin Burkhalter hosted a View from the Top Segment with Facebook’s Vice President of Business Engineering and Partner Solutions, Alvin Bowles, who discussed how Facebook is supporting Black-owned businesses through various digital exposure initiatives. 

  • “It’s just important to note that individuals are trying to leverage the digital economy to be able to actually decrease that distance between innovation and execution, and trying to figure out the best way to be able to leverage opportunities to have individuals discover their businesses. We feel like there’s an enormous responsibility that we have. As we head into this holiday season, it’s now more important than ever to really focus on the discovery economy and that every good idea deserves to be found.”  

Thank you Facebook for sponsoring this event. 

Sep 17, 2021 - Health

Retail sales increase despite low expectations from Delta

Data: FRED; Chart: Axios Visuals

Consumers defied expectations and shopped at an increasing rate amid a resurgence in COVID-19 cases.

Why it matters: Several measures of consumer confidence fell sharply in August, suggesting consumer spending could fall during the month. In fact, concerns about the Delta variant's impact on the economy had prominent Wall Street economists cutting their expectations for Q3 GDP growth.

California to remove word "alien" from state laws

Gov. Gavin Newsom during a September news conference in Oakland, California. Photo: Jane Tyska/Digital First Media/East Bay Times via Getty Images

California is removing the word "alien" from its state laws and replacing it with words such as "noncitizen" and "immigrant," Gov. Gavin Newsom (D) announced.

Why it matters: The word "alien" began to be used in the 1990s "as a political dog whistle to express bigotry and hatred without using traditionally racist language," per a statement from Newsom's office.