GE CEO says housing market tough

ROME (Reuters) - General Electric Co. (GE.N) CEO Jeff Immelt reiterated on Wednesday that the global economy was strong despite a tough housing market and scotched speculation that his company might sell media unit NBC Universal.

Investors view GE as a bellwether of the U.S. economy because of the size and diversity of its operations that range from manufacturing heavy equipment to consumer lending.

But, despite fears of an economic slowdown after difficulties in global credit markets in recent months, Immelt said orders in the fourth quarter were as robust as in the third and second.

"Housing is going to be tough but the global economy remains very strong," Immelt said on the sidelines of the World Energy Congress in Rome, although he cautioned there might be contagion of the wider economy by weaker areas.

There has been repeated speculation that NBC will be sold by its parent but when asked about the TV to music group, Immelt said: "I'm all about running NBC Universal for the long term".

Immelt added that GE may make small acquisitions in the energy industry, where GE is experiencing strong growth.

In his speech to the WEC, Immelt cited the sub-sea exploration sector as being of particular interest to GE.

Immelt also repeated forecasts for 2007 revenues of approximately $175 billion and profit of around $23 billion.

(Reporting by Tom Bergin; Writing by Deepa Babington, Editing by Erica Billingham/Elizabeth Fullerton)