LONDON, Aug. 23 (Xinhua) -- Britain's gross domestic product (GDP) for the second quarter of this year has been upgraded to 0.7 percent as compared with the previous quarter, according to the Office for National Statistics (ONS) on Friday.
In its second estimate of growth from April to June, the ONS said GDP grew 0.1 percentage points higher than the previously estimated 0.6 percent growth.
The slight upward revision to the second quarter GDP continues the run of good news on the UK economy and the spending breakdown looks reasonably encouraging too, said Vicky Redwood, Chief UK economist with Capital Economist Ltd.
Business investment was up by 0.9 percent, while household spending expanded by 0.4 percent. Exports rose at 3.6 percent, the fastest pace since late 2011.
However, Redwood also pointed out some serious constraints, such as the fiscal squeeze and weak bank lending facing British economy, adding that it may struggle to keep growing at quite such robust rates.