Bernanke says U.S. set for 3 pct growth this year

ABU DHABI, March 4 Tue Mar 4, 2014 4:31am EST

ABU DHABI, March 4 (Reuters) - The outlook for the U.S. economy is positive compared to the rest of the industrial world and there are good reasons to think it will keep growing at a rate of around 3 percent this year, former Federal Reserve Chairman Ben Bernanke said on Tuesday.

Bernanke, making his first public speech since he left office in January, was addressing a financial conference in the the capital of the United Arab Emirates.

The housing sector, which was a big part of the U.S. slowdown, shows signs of recovering and the construction industry will expand, he said.

However, he also said the crisis was not yet over in the United States. "The first thing the U.S. learnt is the U.S. is not invulnerable to crisis," he said.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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