(MENAFN - AFP) Britain's economy grew at the fastest rate for more than three years during the third quarter, as the recovery picked up speed, official data showed on Friday.
While the government welcomed the news, Bank of England governor Mark Carney warned that the country's economic recovery needed to be more broadly based.
Gross domestic product (GDP) -- the total value of goods and services produced in the economy -- rose by 0.8 percent in the July-September period.
That compared with GDP growth of 0.7 percent in the second quarter, the Office for National Statistics (ONS) said in a statement.
This was the strongest expansion since the second quarter of 2010 when the economy grew by 1.0 percent, before contracting.
The ONS added that GDP grew by 1.5 percent in the third quarter (Q3) compared with output in the equivalent period in 2012.
"Output increased in all four main industrial groupings within the economy in Q3 2013 compared with Q2 2013," the ONS said as it gave its initial estimates for the third quarter.
"Output increased by 1.4 percent in agriculture, 0.5 percent in production, 2.5 percent in construction, and 0.7 percent in services. Output from services is now slightly above its previous peak in Q1 2008, prior to the economic downturn," the ONS added.
A spokesman for the Treasury said the data showed "that Britain's hard work is paying off and the country is on the path to prosperity".
But late on Thursday, Carney warned that while the recovery was gaining traction it was coming from a low base and warned that it was heavily balanced towards household spending.
"What we are seeing is that the rate of growth in the UK is towards the top end of the advance economies but it is coming from a very, very low base," he told reporters.
"The balance of that growth is weighted more heavily towards the household sector at this stage. Investment is still relatively modest and the export side is challenged," he said.
Britain's household spending has improved in part thanks to government schemes aimed at boosting the country's housing market.
The government launched a programme called "Help to Buy" earlier this year, offering interest-free loans for a set time period to help buyers with only a 5.0-percent deposit to purchase properties.
Following the latest GDP data meanwhile, Royal Bank of Scotland economist Ross Walker said that "the acceleration in UK economic growth reinforces the sense that a more sustainable recovery is taking root".
He added: "2013 has brought something of a normalisation in the data, in contrast to the previous period between 2011-12 where there were short bursts of growth but expansion was rarely sustained.
"The Q3 outturn leaves the UK on track for full-year expansion of close to 1.5 percent ... and the first year where all four quarters reported positive growth since 2007," Walker said.
Carney said on Thursday that the Bank of England (BoE) stood ready to provide easier credit to Britain's banks to help them cope with the scaling back of current liquidity measures.
BoE policymakers recently voted unanimously to maintain record-low interest rate and the amount of cash stimulus for the improving British economy.
The central bank's Monetary Policy Committee voted 9-0 to keep its key lending rate at 0.50 percent and maintain its bond-buying quantitative easing (QE) scheme at 375 billion (607 billion, 441 billion euros).