Economy in good shape but "storm clouds" loom: Bush

FREDERICKSBURG, Virginia (Reuters) - President George W. Bush said on Monday the fundamentals of the U.S. economy are strong but warned that "storm clouds" are looming.

"This economy's pretty good," Bush told a Rotary Club audience in Fredericksburg, Virginia. "There's definitely some storm clouds and concerns but the underpinning is good."

"If I were an investor, I would be looking at the basic fundamentals of the economy," he added. "The fundamentals of this nation are strong."

(Reporting by Matt Spetalnick; Editing by Tom Hals)