China services, property sector surge to 56.7 and 53.7

These sectors are thriving, but will they last for this year's second half?

In a release by Market News International, China's services sector expanded at a faster pace in June on the back of the strength of new orders and the property sector, the China Federation of Logistics and Purchasing (CFLP) announced Tuesday.

Here's more from MNI:

The headline services sector PMI rose to 56.7 from May's 55.2, while the new orders index rose to a high for 2012 at 53.7 in June and compared with 52.5 in May.

The business activity index for the property sector jumped to 58.2 in June, its highest level since December 2010, while the new orders index for the property sector rebounded to 55.7 in June, ending 18 months of declines, the CFLP said.

The data marks a contrast with the CFLP's manufacturing sector PMI which fell to a seven-month low of 50.2 in June from May's 50.4.

That beat the expected 49.7 -- which would have indicated that the manufacturing sector is again contracting -- but still marked the lowest reading for the headline index since last November's 49.0.

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