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Local Economic Indicator Drops for First Time in Two Years

San Diego Union-Tribune -- For the first time in more than two years the local leading Economic Indicators Index fell 0.2 percent in June driven by a drop in consumer confidence, according to the report by the University of San Diego Burnham-Moores center for Real Estate.

“People believe the country is on the wrong track, with prolonged and high unemployment, continued layoffs and the conflict in Washington over the debt limit,” said Alan Gin, economist at the University of San Diego. “People are just gloomy right now.” (Full story)