Britain's economy expanded at the fastest rate last year since before the financial crisis but growth dipped in the final quarter of 2013, official data showed yesterday.

Gross domestic product expanded by 1.9 per cent in 2013, the biggest expansion since 2007, the Office for National Statistics (ONS) said.

GDP had grown by only 0.1 per cent in 2012, while the IMF recently said it expects the British economy to grow by 2.4 per cent this year.

Economic output meanwhile grew by 0.7 per cent between October and December last year compared with the third quarter of 2013, when GDP increased by 0.8 per cent, the ONS added.

Finance minister George Osborne said yesterday's data was "more evidence that our long term economic plan is working".

"But the job is not done, and it is clear that the biggest risk now to the recovery would be abandoning the plan that's delivering jobs and a brighter economic future," he added.-Reuters