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In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country. "We haven't got the economy moving yet."
While the economy is a "shambles" and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.
June 24 (Bloomberg) -- Orders for U.S. durable goods unexpectedly jumped in May, a sign companies are gaining confidence the recession is easing.
The 1.8 percent rise in bookings for items meant to last several years matched the previous month’s increase, the Commerce Department said today in Washington. Another report showed sales of new houses unexpectedly dropped last month, indicating foreclosures made existing homes more attractive.
7:10 AM PDT, June 24, 2009
TOKYO -- The slump in Japan's exports showed little sign of relenting in May, with auto exports to the U.S. down more than half, adding to doubts about a quick recovery from the global recession.
Exports from the world's second-largest economy plunged 40.9 percent from a year earlier, accelerating from a 39.1 percent fall in April, the government said today, as consumers overseas bought fewer of the country's cars, electronics and other mainstay exports.