US President Dismisses 'Double-dip' Recession Threat

Washington, Jun 7 (AFP) US President Barack Obama today dismissed fears of a plunge into a "double-dip" recession and warned against "panic" over dismal economic data that is beginning to cloud his reelection hopes.

In a news conference with German Chancellor Angela Merkel, Obama responded to signs the recovery may be slowing and sought to assure "skittish and nervous" investors and voters that better times lay ahead.

"I am not concerned about a double-dip recession," Obama said, empathising with people who were frustrated that growth had not been unleashed more quickly.

"I'm concerned that the recovery we're on is not producing jobs as quickly as I wanted to happen," he said, adding there was "enormous work to do" to strengthen the recovery after the worst recession in decades.


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Title: US President Dismisses 'Double-dip' Recession Threat

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