(RTTNews) - The price of copper slipped slightly on Monday, extending losses seen in the previous session. Investors mulled over an assortment of data around the globe.

Copper for December delivery dipped a penny to $2.94 a pound.

In economic news, the Commerce Department revealed that construction spending rose 0.8 percent in September. This followed a 0.1 percent decline in August and a 1.2 percent slide in July.

The National Association of Realtors announced the pending home sales index rose 6.1 percent to 110.1 in September from a reading of 103.8 in August. The increase by the index came as a surprise to economists, who had expected the index to edge down 0.1 percent.

The Institute for Supply Management manufacturing index rose to 55.7 in October from 52.6 in September, with a reading above 50 indicating growth in the sector. Economists had been expecting a more modest increase by the index to a reading of 53.0.

In China, the HSBC Purchasing Managers' Index stood at 55.4 in October, up from 55.0 in September. This is highest reading recorded since April 2008. A reading above 50 indicates expansion, while one below 50 suggests contraction.

In the Eurozone, the purchasing managers index for the region's manufacturing sector rose to 50.7 in October from 49.3 in September, survey data released by Markit Economics showed Monday.

The Federal Open Market Committee's two-day policy meeting begins. A rate decision is expected on Wednesday afternoon.

At 10 a.m. ET Tuesday, factory orders data is due. A rise of 0.9% for September is forecast, compared to a decline of 0.8% in August.

December-stamped copper fell to $2.96 per pound, down 6 cents on the session.

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