The Office for National Statistics said that the UK economy expanded by 1.9 per cent over the course of last year

The fierce rivalry between Germany and the UK is well known in sport, but the competition may now have reached the world of economics after a last-minute revision to official figures has led Britain to jostle for the top spot.

In a development that some might see as akin to scoring a goal in added time, the UK has joined Germany as the fastest-growing advanced economy in 2016.

The Office for National Statistics said that the UK economy expanded by 1.9 per cent over the course of last year, rather than its original estimate of 1.8 per cent.

Citizens of countries that have a high economic growth rate are likely to have higher incomes and higher standards of living. This is because, if growth goes