On The Call: US Steel CEO says recovery "choppy"

By The Associated Press

United States Steel Corp. on Tuesday said there are some hurdles ahead for the global steel industry, issuing a shaky outlook for the current quarter after posting a second-quarter loss.

On a conference call with analysts, Chairman and CEO John Surma discussed the high degree of uncertainty surrounding the economy, including whether it will fall into a "W" shaped double-dip recovery or a slow and steady "U" shaped rebound.

QUESTION: Can I ask what the economic backdrop is? Can you can throw anything out about the economy?

RESPONSE: "I don't have any particular important insight into broader economy other than what we would see through our customer's eyes, and I think there there is a high degree of uncertainty. There is a recovery underway. It is going to be choppy and it won't be a straight line, and you can take whatever alphabet you like but I think it is going to be choppy recovery and it is going to take some time."