Former chairman of the Federal Reserve Alan Greenspan believes there is "momentum building up" in the US economy and the chance of a double dip has fallen significantly.
Speaking to ABC news, Greenspan's upbeat view followed last week's positive economic figures from the US, which included the largest employment growth in three years in March.
"There is a momentum building up which is really just beginning and it has got a way to go," Greenspan says.
He added the US was on the edge of a "significant build-up" in inventories and corporate investment in new equipment was returning "in a fairly substantial way".
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