Tags: US | Obama | No | Double | Dip

Obama Confident No 'Double-Dip' Recession Coming

Thursday, 05 Aug 2010 06:23 PM

 

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President Barack Obama says he is confident the nation will not suffer the "double dip" of back-to-back recessions.

The rebound of the U.S. economy appears to be slowing, prompting fears that the nation will slide into recession again after a brief period of growth.

Obama told a CNBC interviewer he was confident that won't happen.

He acknowledged that much work remains on problems such as long-term unemployment. But the president expressed confidence that the economy is moving in the right direction.

U.S. economic growth slowed to 2.4 percent from April to May, down from 3.7 percent in the first three months of the year.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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