Washington  - US President Barack Obama Wednesday told his board of outside economic advisers that the US economy was showing "some return to normalcy."

Obama's first full meeting with the 16-member panel, which is led by former Federal Reserve chairman Paul Volcker, was broadcast live from the White House.

The panel discussed energy and jobs issues.

"Youre seeing industry, labour and government working together more cooperatively and in a better spirit" than "in a long time," Obama said.

The president referred to his announcement Tuesday of a drastic reduction in auto-emissions through a new national standard for fuel efficiency for cars and trucks sold in the US.

Obama said this programme and others yet to come will not only reduce carbon emissions blamed for global warming, but also generate thousands of new jobs in the energy sector.

Members of the Economic Recovery Advisory Board include General Electric Co Chairman and Chief Executive Officer Jeffrey Immelt, former Securities and Exchange Commission chairman William Donaldson, former Fed vice chairman Roger Ferguson, UBS Americas Chairman and CEO Robert Wolf and Service Employees International Union Secretary- Treasurer Anna Burger.

"Clean energy is the most exciting, fastest growing industry in the 21st century," Obama said.

Immelt said GEs 70 energy-efficiency" products are generating about 18 billion dollars of revenue this year, accounting for about 50,000 jobs within the company and the "supply chain" of small and medium companies.

Obama is pressing Congress to move forward on energy and climate legislation that would create a market-based cap on greenhouse-gas emissions from utilities and other human sources. (dpa)