Global Business Activity Starts to Steady, but Recovery Looks Far Off

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U.S. and global business activity and labor markets suffered a little less in May than in prior months

, offering signs that damage to the global economy from the coronavirus pandemic is easing but will require an extended time to overcome.

Surveys of purchasing managers showed private-sector activity in the U.S., Europe and Japan fell for the third straight month in May, despite the tentative reopening of many economies around the world.

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