US President Barack Obama has said the recession-hit US economy Is showing ‘glimmers of hope’ despite remaining under strain.
President Obama also promised further steps in coming weeks to tackle the financial crisis.
‘We've still got a lot of work to do,’ Mr Obama told reporters after a meeting with economic and regulatory teams plus Federal Reserve Board Chairman Ben Bernanke.
But he added, ‘We're starting to see progress.’
President Obama spoke a day after encouraging trade and jobless figures pushed stocks higher, and White House economic adviser Lawrence Summers predicted the economy would emerge from a sense of ‘freefall’ by the middle of the year.
Less than three months into his presidency, Mr Obama stopped short of declaring that the recession he inherited from predecessor George W Bush was bottoming out.
However, he offered a somewhat more upbeat tone than he has recently on the state of the economy, which is locked in its worst crisis in decades.
‘What we're starting to see is glimmers of hope across the economy,’ he said.
‘Over the next several weeks, you'll be seeing additional actions by the administration,’ he added but gave no details.
