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This is an archive article published on May 28, 2009

Worst is over for economy: GE CEO

Immelt said credit and capital markets have improved,making it easier to raise funds.

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General Electric Co Chief Executive Jeffrey Immelt said he feels more confident about business conditions given signs the global economy has passed through the toughest stage.

“As we sit here today I actually feel more confident than we’ve felt for the past probably 9 months or a year,” Immelt told a business luncheon in Tokyo.

Immelt said credit and capital markets have improved,making it easier for companies to raise funds,and that government stimulus spending was also helping bolster the economy.

“We see some green shoots and we feel the strengthening in the economy. I think it’s almost impossible to predict but I do think the worst is over.”

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