The quarter-on-quarter increase can be attributed to small upwards revisions across a number of the main industrial groupings the Office for National Statistics said.
Year-on-year the second quarter GDP is up 1.5%, while employees compensation including wage increases and pension contributions witnessed the highest quarterly increase since Q3 2000, up 2.4%.
The 0.7% growth rate was also seen in the third quarter of 2012, an increase attributed to the success of the Olympics in London.
All four major sectors of the economy – services, industry, agriculture and construction – had expanded during the three months to the end of June.
Nancy Curtin, chief investment officer of Close Brothers Asset Management, said: “Barely months after the threat of a triple dip, a series of good economic results for the UK means business and consumer confidence is climbing. A London-led recovery has spread to the regions and has driven faster growth than expected, and like the US, the UK has shown its resilience in the face of slowing global trade.
“The question remains whether the new Governor of the Bank of England, Mark Carney, will take this opportunity to put his foot on the gas and increase QE to accelerate the UK’s progress along the road to recovery even further.”
Earlier in the week Martin Weale, one of the Bank of England’s policymakers told The Telegraph he could “envisage circumstances in which it would be sensible to undertake further asset purchases”.
Such circumstances could include further shocks from the eurozone, fresh turmoil in emerging markets, or a faltering domestic economy, he added.
