U.S. construction spending drops smaller than expected 2.9% in April

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China’s factory activity indicates slower growth

BEIJING — An official gauge of China’s factory activity dropped in May for a second straight month as the coronavirus pandemic curbed demand. The official manufacturing purchasing managers index edged down to 50.6 in May from 50.8 in April, the National Bureau of Statistics said Sunday. Still, the index remained above the 50 mark that separates month-on-month expansion of activity from contraction.

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