Hong Kong's gross domestic product rose 4.2% in real terms in the second quarter on the same period last year, compared with 7.3% growth in the previous quarter by using chain volume measures, the Census & Statistics Department says.

Analysed by constituent sector and on a year-on-year comparison, net output in all the service activities taken together rose 4.3% in real terms.

Net output in the wholesale, retail and import and export trades, restaurants and hotels sector grew 6.9%. The rise was mainly attributable to solid growth in both offshore trade and inbound tourism.

Due to the moderation in external trade activities, net output in the transport, storage and communications sector rose 4.3% in real terms, compared with the 7.2% increase in the previous quarter. Net output in the community, social and personal services sector grew 1.5% in real terms

After a 10.4% increase in the first quarter, net output in the financing, insurance, real estate and business services sector surged 4.5% in real terms. The moderation in growth was attributable to reduced trading activities in the stock market and the property market.