San Diego County's economic outlook deteriorated again in October, according to the latest University of San Diego report. Even so, its author says an actual recession is unlikely despite the slowing economy....
..Kelly Cunningham, a veteran local economist, reiterated his earlier statements that the economy is likely to avoid a recession in technical terms, but the sharp slowdown would appear to be a recession to most people.
Technically, a recession is a decline in economic output for two consecutive quarters.
"It certainly will feel like a recession," Cunningham said. He is a senior fellow and economist at the San Diego Institute for Policy Research, a free market-oriented think tank.
