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A recent wave of disappointing economic reports signals nothing more than a temporary soft patch and isn’t a sign of a more sustained downturn say economists at Barclays Capital. Barclays believes the economy is suffering due to concerns over inflation driven by a recent spike in energy prices. Rising energy costs have caused a downturn in consumer spending and confidence but, unless energy prices continue to increase, consumer sentiment should begin to improve. Barclays also forecasts improvement in the housing market and feels the recent decline in home prices is temporary and reflects a volatile but recovering market. More here.
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