General Electric Co. (NYSE: GE)’s financial arm, G.E. Capital, said that it does not see a second recession coming in the United States and that the economic turmoil in Europe will likely not hamper domestic economic growth for the company.
“Most of our customers are Main Street, small to mid-ticker size businesses,” said Dan Henson, G.E. Capital’s CEO for North America, on Wednesday.
“It’s Americans selling to Americans, Canadians selling to Canadians and Mexicans selling to Mexicans…I don’t see the EU presenting a problem here,” he said.
Henson also said that he does not believe that a “double-dip” recession is occurring or will occur in the U.S. and that he predicts prolonged volatility and economic pressure would require a review of that outlook.
“We are hearing cautious optimism,” he said. “We predict positive momentums and trends” for North America.
