By Vicki Needham - 03/03/14 03:08 PM EST
Billionaire investor Warren Buffett said Monday that the economy is steadily improving even though it is not expanding as fast as some would like.
Buffett, chairman and CEO of Berkshire Hathaway, said "we have had this moderate but consistent growth now for four-and-a-half-years and every now and then we get excited about it speeding up and every now and then we start worrying about a double dip and all that," he said on during an interview with CNBC.
He said even if gross domestic product figures "bounce around a little" that "in terms of what we see, i would say that it's been almost a straight line but not at the kind of slope that people would like, but not flat, either."
The second estimate of fourth quarter GDP was 2.4 percent a drop from the first estimate of 3.2, the Commerce Department reported last week.
Economists have said that severe winter weather has played a role in holding back growth in the past several months but that they expect the housing market to pick up pace with the warmer weather, which should provide a boost to the economy.