Oil and gas weigh on GE

General Electric reported weak demand for new oil, gas and transportation equipment, raising concerns about its full-year performance and sending its shares down 1.6 percent on Friday to $32.06.

Still GE, long considered a bellwether for the US economy, posted adjusted second-quarter earnings of 51 cents a share that topped analysts’ estimates of 46 cents.

GE also affirmed its 2016 operat- ing outlook and forecast that strong growth would continue in the second half.

But investors focused on a 16 percent decline in new orders from continuing businesses amid weakness in oil and gas prices and commodity markets that undercut demand, raising questions about its forecast.

GE expects sales for the year to grow at the low end of its 2 percent to 4 percent target range.