David Kern, chief economist at the British Chambers of Commerce, said the government needs to think of new ways to boost exports to foster a rebalancing.
Business investment grew 2% between the second and third quarters, and figures suggest the economy grew faster in 2012 than earlier estimates. The ONS said the U.K. economy is now 2% smaller than it was before recession struck in 2008, not 2.5% as previously thought.
The economy also appears to have got off to a good start in the final quarter. Data for October showed the services sector, which accounts for the bulk of U.K. output, expanded 2.1% on a year earlier.