The UK economy saw GDP growth of 0.6 per cent in the second quarter according to the latest figures from the Office for National Statistics (ONS).
This matched market expectations and is an extra positive sign for the economy on top of the 0.3 per cent growth that was seen in the first quarter of the year, and is 1.4 per cent higher when compared with Q2 2012.
But despite the encouraging numbers, the economy was still 3.3 per cent below the pre-recession figure recorded in Q1 2008.
High performers for the quarter were construction, which was up 0.9 per cent, compared with a 1.8 per cent drop the previous quarter; and both service sector and manufacturing grew 0.6 per cent, according to ONS.
Under the services umbrella, business services and finance grew 0.5 per cent after a weak first-quarter performance, with architectural and engineering seeing the strongest growth. For the whole year period, this sector grew 1.5 per cent.
Not to be left out, hotels, restaurants and distribution also grew 1.5 per cent in Q2. In fact, the figures revealed that all the main sectors of the economy grew for the first time since Q3 2010, fuelling hopes that a recovery is on the horizon.
Prime minister David Cameron said in a tweet: “Today's economic growth figures are encouraging. We are on the right track – building an economy for hardworking people.”
Chancellor George Osborne also tweeted after the figures were released, saying the UK was "holding its nerve" but still had a "long way to go".
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