BUTTE, Mont. — Warren Buffett ruled out a second recession in the U.S. and said businesses owned by his Berkshire Hathaway are growing.
“I am a huge bull on this country,” Buffett said Monday in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”
Berkshire bought railroad Burlington Northern Santa Fe Corp. for $27 billion in February in a deal that Buffett, 80, called a bet on the U.S. economy.
Economists New York University professor Nouriel Roubini and Harvard University professor Martin Feldstein have said the odds of another recession may be one in three or higher.
“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”
The world’s largest economy grew at a 1.6 percent annual pace in the second quarter, exceeding the median forecast of economists surveyed by Bloomberg News, revised figures from the Commerce Department showed Aug. 27. Bloomberg News
