China manufacturing losing its punch

China’s manufacturing industry is losing momentum, following suit with the country’s investment, production and credit, all of which have expanded at a slower pace, Bloomberg reported. The Purchasing Managers’ Index was at 51.1 for August, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. The reading dropped from 51.7 in July and remained above 50, indicating expansion. A pullback in manufacturing, coming as the property market slumps, adds pressure on the government to step up efforts to meet its expansion target of 7.5% this year. China’s stock-index futures rose on speculation of more stimulus.