U.K. second quarter economic growth revised up

LONDON Britain's statistical agency has revised up its estimate of quarterly economic growth in the April-June period to 0.7 percent.

The Office of National Statistics lifted it from the previous quarter-on-quarter estimate of 0.6 percent. Though Friday's revision is slight, it will further fuel optimism that Britain's economy is moving in the right direction.

The ONS attributed the revision to small increases in activity across a number of the main industrial groupings.

Chris Williamson, an analyst with Markit.com, says the details are encouraging as they show growth is not being fueled just by household spending but rather by exports and business investment.