JAKARTA, Sept 1 Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations.
Unemployment in the euro area unexpectedly declined to its lowest level in more than 3 years, signaling the region's recovery is gaining pace even as dark clouds from China draw on the horizon.
... * China manufacturing contracts at fastest in 3 years - PMIs. * Crude oil prices fall more than $2 in early trade. * Reuters oil poll sees Brent lower for longer (Updates detail, prices, comment; paragraphs 1, 5-6, 10-13).
LONDON/BEIJING China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer.
TOKYO - Global stock markets fell sharply Tuesday and Wall Street was set to open lower as gloomy economic data from China and Japan augured further uncertainty for investors after a brutal August.