Here comes the latest British GDP data...

At 9:30 a.m. London time (4:30 a.m. New York) the UK will get its latest GDP figures, showing just how much the economy grew between April and June, compared to the three months before.

Analysts are expecting a 0.7% boost, which would signal a solid pace of growth, following the slightly disappointing 0.4% expansion recorded for the first quarter of the year (Q1).

The British economy seems to be entering a new phase, with the rapid gains in employment recorded over the last couple of years fading a little, replaced by slightly better wage growth.

Here's what Lloyds Bank's morning note said about the GDP release:

Official data for the quarter points to a quicker pace of expansion over Q2, with a notable gain in industrial production in April and May - driven by a surge in oil & gas output - offsetting weak outturns for construction. Although the first estimate of GDP is based on data covering only about 40% of the economy's output in the quarter and over time tends to undergo revisions, at this stage of the data cycle we anticipate a 0.6% quarterly GDP gain.

Barclays analysts are also expecting a 0.6% rise, while BNP Paribas economists see a 0.7% rise, in line with the consensus.

Though it may not feel much like it, RBS economists note that this is actually the third longest growth streak since 1955:

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