OMAHA, Neb. (AP) ? Billionaire investor Warren Buffett says the overall economy has been slowing down in the last two months as fears about Europe's debt woes mounted, but businesses tied to residential housing are improving a bit.
Buffett, who is chairman and CEO of Berkshire Hathaway Inc., said during an interview on CNBC on Thursday that he's not sure why the general economy is slowing, but he sees evidence of it at Berkshire's retail, jewelry, carpet and other businesses.
Buffett says the U.S. economy has not turned negative, but business in Europe has dropped off quickly in the past two months.
Buffett says the small improvement in residential home sales, construction and related businesses is encouraging, but it hasn't been enough to offset the tepid performance of the rest of the economy.
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