US economy 'healing'

WASHINGTON - Treasury Secretary Timothy Geithner says the US has a low risk of a double-dip recession.

Geithner told ABC News the economy was at a lower risk "than at any time over the last 12 months".

He said that during the last quarter of the year it grew at the most rapid rate in six years. And he believed the country was in "the process of healing".

The Dow Jones index finished up yesterday after falling 268 points the previous day.

January's unemployment rate showed an unexpected decline from 10 per cent to 9.7 per cent - the first drop in seven months.