Los Angeles -- A widely watched UCLA study predicts a conservative approach to lending and consumer spending will slow down the U.S. economic recovery.
The UCLA Anderson Forecast agreed Wednesday that the recession technically came to an end this summer; however, the negative impacts will linger at least into next year.
Author David Shulman said in a written statement that real U.S. GDP will increase 2.1 percent this quarter and 2.3 percent in the coming fourth quarter. Growth in 2010 will run around 2 percent quarterly and gain a little more traction by 2011.
The report said the recovery would be slow due to the reluctance of banks to lend
and consumers to start running up their debt.