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San Diego Economic Forecast Predicts Muddled Year Ahead.

Erik Anderson, KPBS Radio

Friday, December 16, 2011

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The Institute's report expects consumer spending to jump about 5 percent. That's an improvement, but not enough to be considered an economic recovery.
"That's partly because consumers are still heavily in debt, and we're now seeing inflation starting to creep up," said Cunningham. "We're seeing it at about 3 percent now. We're spending so much on gas prices, energy prices, commodity prices and food."