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March 4, 2008

Buffett says U.S. is in a recession

OMAHA, Neb. (AP) — Billionaire Warren Buffett said Monday that the U.S. economy is essentially in a recession even if it hasn't met the technical definition of one yet.

Buffett said in an interview with cable network CNBC the reports he gets from the retail businesses his holding company owns show a significant slowdown in purchases.


 
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