China's June factory activity contracted for a third month. The country's official manufacturing purchasing managers' index (PMI) for this month came in at 49.0. It was 48.8 in May and 49.2 in the month prior, according to the National Bureau of Statistics data released on Friday.

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Economists polled by Reuters had predicted a 49.0 reading, making the June data in-line with market expectations.

A reading more than 50 points at expansion in activity, while less than 50 suggests a contraction.

China's economic growth in May and April was weaker than market expectations. However, earlier this week, Chinese Premier Li Qiang said the country was still on track to meet its annual growth target of 5 percent.

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First Published:Jun 30, 2023 7:30 AM IST