Local economist: Slow economic recovery for Phoenix area

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PHOENIX -- Phoenix-area business leaders are hearing a gloomy assessment of the metro area's economy and prospects.

Prominent Arizona economist Elliott Pollack says underlying dynamics of the metro area remain positive but he says the recovery "will be slow to materialize just as the recession was slow to develop."

In Pollack's words, "The outlook today is as bad as it was a year ago and 2009 is only going to get worse."

Pollack's comments come in prepared remarks for an economic outlook conference sponsored by the Greater Phoenix Chamber of Commerce and Cox Communications.

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