Thaindian News

Sep 24 (THAINDIAN NEWS) US billionaire Warren Buffett says that the United States economy is still in crisis because Americans are not doing as much as they did before the recession hit the country.

Buffett was speaking on CNBC in an interview that was aired on Thursday. Buffett spoke on America’s economy and his businesses on the interview. Financial analysts announced this week that America’s recession officially ended in June 2009, but Buffett believes that the country’s economy remains in recession.

Buffett was emphatic that America was still in recession, saying “We’re still in recession”. He believes America will not get out of the recession anytime soon but he said the country would eventually be out of it.

Buffett was one of people who declared earliest that America has entered recession in 2008. There were a lot of denial and delays but eventually the country’s authorities declared that the country was indeed in recession.

Warren Buffett owns the Berkshire Hathaway Inc. group of businesses and he use the health of the businesses to check the health of the American recession. At the peak of the recession, Buffett lost so much income and though he says the Berkshire businesses are improving, he added that they are moving slowly.