Buffett adds to bullish US economic recovery signals
(REUTERS) - Anyone looking for more evidence of a strengthening United States (US) economic recovery need only consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits.
Even though Berkshire's Mr Warren Buffett says with emphasis that the housing market is still in a depression, he was as upbeat as ever this weekend on the rest of the dozens of businesses he owns.
'Though housing-related businesses remain in the emergency room, most other businesses have left the hospital with their health fully restored,' Mr Buffett said on Saturday in his closely watched annual letter to shareholders.
Berkshire's five largest non-insurance businesses, all of them industrial in some way, posted record profits last year and should do the same this year, he said, surpassing US$10 billion (S$13 billion) in combined earnings.