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According to Reuters, the FTSEurofirst 300 index was up 1.1 per cent at 14:06 GMT today (January 29th), meaning it is now 5.7 per cent below the high reached on January 11th.
A poll by the news source indicated that growth of 4.6 per cent was expected to have been seen in the US in the final quarter of the year.
However, gross domestic product figures released today revealed a 5.7 per cent increase.
Manoj Ladwa of ETX Capital warned that despite the optimism that this generated, a "closer inspection" of the data shows: "The 'engine of the economy' that is consumer spending contributed little to the overall improvement in the numbers, indicating the recovery may still falter."
Earlier today, Joshua Raymond of City Index suggested that traders would remain cautious in anticipation the economic statistics.
Posted by Greg Secker
