Huffpost Business

GE CEO Jeff Immelt: State Of Economy 'A Lot Different' Than During Financial Crisis

Posted: Updated:

COLUMBUS, Ohio - General Electric Co (GE.N) Chief Executive Jeff Immelt said on Thursday that despite worries about the state of the U.S. economy, conditions are "a lot different" than during the credit crisis of 2008 that set the stage for the last downturn.

"This is a lot different than 2008, guys," Immelt told reporters at a GE event in Columbus, Ohio. "There is liquidity, there are pockets of growth and I think people have confidence that they might be able to find the right pockets of growth."

The largest U.S. conglomerate is introducing on Thursday what it bills as the largest study yet done on the "middle market" of American business, companies that generate between $10 million and $1 billion in annual revenue.

Midsized companies will have access to credit but seem concerned about their ability to keep it, Immelt said.

"They have access but they're worried," Immelt said. "It's not that what they're seeing today is so bad, but they're worried about what happens next."

(Reporting by Scott Malone; Editing by Derek Caney)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Around the Web

Ohio State's Fisher, General Electric partner for growth

GE chairman Jeffrey Immelt sees no world recession

GE Study Sees Midsized Firms Adding Sales Even as Economy Slows

GE's Immelt sees "decent" U.S. economic growth

General Electric No Longer A Blue Chip Company?

Dividends at three-year lows mean pressure builds as cash stockpiles rise

UPS Sees Double Dip as Unlikely