Hong Kong's gross domestic product rose 6.9% in the second quarter, and net output in all the service activities taken together rose 7.7%, the Census & Statistics Department says.
Due to the robust growth in external trade and offshore trade, coupled with the solid growth in local consumer demand, the net output in the wholesale, retail and import and export trades, restaurants and hotels sector went up 8.5% in the second quarter, following a 7.9%-rise in the first.
For the transport, storage and communications sector, net output grew 4.9%, after a 4.6% rise in the first quarter. The sustained growth in external trade underpinned the growth in transport and storage services.
Net output in the financing, insurance, real estate and business services sector rose 14.3%, compared with the 15.7% rise in the first quarter. The growth impetus came mainly from the financial services, underpinned by an upsurge in stock market turnover in the second quarter.
The community, social and personal services sector saw its net output rise 1.2%, following a 1.1% growth in the first quarter. For the electricity, gas and water sector, net output rose 2.7%, after a 1.5% rise in the first quarter.
Net output in the local manufacturing sector dipped 2.3%, after a 1.5% fall in the first quarter. As for the construction sector, stronger construction activities in the private sector led to a 3.3% rise in the sector's net output, compared with the 5.7% drop in the first quarter.
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