Warren Buffett, Berkshire Hathaway CEO, discusses his outlook for the U.S. economy.
By msnbc.com staff
Billionaire investor Warren Buffett said Thursday the general U.S. economy?s growth has slowed so that it is now essentially ?flat,? but the European economy is faring much worse.
?The U.S. economy is faring better than virtually any big economy throughout the world,? Buffett said in an interview on CNBC, noting that the American economy has come a long way from where it was a few years ago, just after the financial crisis.
The Berkshire Hathaway CEO also said he is seeing a ?noticeable? pickup in the residential housing market in the U.S. after months of stagnation, but that it is not big enough to spur stronger growth in the rest of the economy.
Buffett said the situation in Europe, where policymakers are struggling to deal with a sprawling sovereign debt crisis, has deteriorated significantly over the past two months, although he expressed confidence that eurozone officials will be able to work out their problems.
Longer term, Buffett said he doesn?t think Europe ?can exist in its current structure.?
Europe is trying to put patches on something that leaks, Buffett says.
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