BERLIN Warren Buffett, whose business and investment acumen has made him one of the world's wealthiest men, said in an interview published Sunday he believes the U.S. economy is already in a recession.
Asked by Germany's Der Spiegel weekly whether he thinks the U.S. could still avoid a recession, he said that as far as the average person is concerned, it's already here.
"I believe that we are already in a recession," Buffett was quoted by Spiegel as saying. "Perhaps not in the sense as defined by economists. ... But people are already feeling the effects of a recession."
The 77-year-old chairman and chief executive of Berkshire Hathaway Inc. was in Europe last week for what he called a "deferred shopping tour," looking for possible acquisitions.
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