On Tuesday, Carnival Corp.'s (CCL) Vice Chairman and Chief Operating Officer, Howard Frank, predicted a slow recovery for the consumers.
He specified, “I'm not an economist, but I don't think we're going to snap right back. With consumers making up 70% of the [U.S.] economy, unemployment around 10% and housing prices still very soft, things won't get dramatically better quickly. It will take a period of time.”
The shares for Carnival were trading up 7.5% to $34.40 lately.