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Economy growth revised upwards
Hopes for Britain's flourishing recovery have been boosted further after official figures revealed the economy grew by more than initially thought between April and June.
The Office for National Statistics (ONS) revised growth in the second quarter to 0.7%, up from its initial estimate of 0.6% expansion.
Rosier growth was seen across all sectors of the economy, with small upward revisions across manufacturing, construction and parts of services.
Second-quarter growth more than doubled from 0.3% expansion in the first three months, raising hopes that the economy is now powering out of its five-year slump.
The Treasury said the upward revision confirmed the UK is "moving from rescue to recovery". A spokeswoman said: "There is still a long way to go, but the economy is on the right track and the Government is committed to its economic plan that has already cut the deficit by a third and enabled the private sector to create over 1.3 million new jobs."
Output from the UK's building sites expanded by 1.4% in the second quarter from an initial 0.9% estimate as the housing market was ignited by state stimulus schemes, including Help to Buy and Funding for Lending. There were also brighter signs from factories, which grew output by 0.7% during the quarter, up from an initial 0.4% estimate.
And output from distribution, hotels and catering firms was revised up to 1.7% from 1.5%, while growth across business services and finance firms was also revised higher to 0.6% from 0.5%. The overall services sector expanded by an unchanged 0.6%, but output from the agriculture sector was revised up to 1.7% from the 1.1% first estimate.
Britain's shrinking net trade deficit, which dropped to £3.2 billion in the second quarter from a £4.3 billion deficit in the first quarter, also contributed to the increase in output as exports leapt to a record level.
James Knightley, economist at ING Bank, said the higher estimate of gross domestic product (GDP) will "boost optimism on the economy". Markit chief economist Chris Williamson added it was a "very encouraging picture of a broad-based upturn across almost all sectors of the economy".
Pay and pension contributions increased by 2.4% in the second quarter - the highest quarterly increase since late 2000 - with the pay spike boosted by unusually high bonus payments in April.