Markets edge up as US reports weak Q2 growth

Markets reacted positively to the news the US had not slowed to the 1.4% expected in the second quarter.

The S&P 500 was up 0.29% while the Dow Jones gained 0.27% as the economy grew at an annual rate of 1.6% in Q2. The FTSE 100 was up 0.18% to 5,164 in afternoon trading. The second estimate for Q2, released by the Bureau of Economic Analysis, is less than the advance estimate issued last month which said real GDP was 2.4% for the second quarter. The BEA blamed the decline on a sharp acceleration in imports, but commentators suggest poor housing sales and employment figures are also dragging on the economy. The US is not sliding back into a 2008-style recession, says BlackRock's Kevin...