China manufacturing contracts, euro zone and U.S. slows

China's giant manufacturing industry contracted and euro zone and U.S. growth eased in August in data published on Tuesday, while the International Monetary Fund cut its forecast for world growth this year. "It's all consistent with a global economy which clearly is struggling to make any significant headway," said economist Peter Dixon at Commerzbank. Global economic growth is likely to be weaker than earlier expected, the head of the IMF said, due to a slower recovery in advanced economies and