Warren Buffett says he wasn’t too surprised by the weak first quarter GDP report, and says things appear to be picking up in the second quarter.
“We saw in January and February things fairly slow, which certainly in some cases was attributable to weather, in our own case. Others may not have been,” Buffett tells CNBC. “But it’s gotten stronger since then. If you have two months out of the three where things really seem to be pretty stagnant, the three months aren’t going to be that good.” Now, Buffett says, the economy is “more like it was going into the end of the year.”
As for the jobs market, Buffett said most, but not all, of Berkshire Hathaway’s businesses are hiring. “It just depends on the industry,” he said. “It’s more or less the same pace that I’ve been seeing since the fall of 2009.”
Buffett also talks about the housing market, saying he’s surprised it hasn’t rebounded more strongly.