Here's your 10-second guide to today's China manufacturing PMI report

DEHUA, CHINA – DECEMBER 7: Chinese workers paint unfinished licensed ceramic ‘Smurfs’ at the Shunmei Group (SMG) ceramics factory during a tour on December 7, 2014 in Dehua,Fujian Province, China. According to recent IMF data China’s economy is considered the world’s largest, having edged past the United States’ economy in terms of real goods and services. However, China’s per capital GDP (gross domestic product) ranking is still considerably lower at 89th in the world while the US is ranked tenth on the same list.(Photo by Kevin Frayer/Getty Images)

In what is one of the most anticipated data releases each month, the flash HSBC-Markit China manufacturing PMI gauge for June will be released later on this morning.

Here’s the state of play.

  • The HSBC-Markit survey is only undertaken by 420 small and medium-sized manufacturing firms based in China. The flash reading is based on the responses frpm 85 to 90% of survey participants.
  • In May the index rose to 49.2, below the 50 level that separates expansion from contraction but higher than the 48.9 figure of April.
  • Activity has contracted for the past three months. Only once in the past eight months has activity expanded.
  • Over the month new export orders slumped, contracting at the fastest pace seen since June 2013. Overall output also declined for the first time since December 2014.
  • Employment among survey participants has fallen for 19 consecutive months.
  • For June the median market forecast is for the gauge to increase to 49.4 (shown in red).

The report will be released at 11.45am AEST. Business Insider will have full coverage once the data drops.

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