Buffett on the economy: 'It looks like things have slowed down'

Warren Buffett, chairman and CEO of Berkshire Hathaway, said Thursday that economic growth has lost some steam recently.

Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas.

Buffett noted that a slowdown in BNSF, the railroad company owned by Berkshire, is flashing a signal of slower growth, but added that some of the data may be distorted by seasonal factors, such as the weather.

“But it does look like it’s slowing down. I don’t mean it’s reversing course, but it does seem from all of the businesses, especially the railroad statistics” that the economy may be growing at a slower pace, Buffett said.

In his annual letter to shareholders, Buffett said he wants to make an “elephant-sized” purchase, but added he has not been able to because prices were “sky-high.

This is breaking news. Please check back for updates.

Subscribe to CNBC on YouTube.

Let’s block ads! (Why?)