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Cathy Wurzer
St. Paul, Minn.

Looking back, looking ahead with Chris Farrell

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Dismal shopping season
Overall, consumer spending, excluding car and fuel purchases, dropped an estimated 2 to 4 percent this month and last. Retail analysts are expected retailers to use after-holiday sales in order to survive the harsh economic slump.
Brendan Hoffman/Getty Images

Minnesota Public Radio's Chief Economics correspondent Chris Farrell discusses retail sales in 2009, the Minneapolis Federal Reserve economic forecast for 2010 and what he'll be watching in the coming year.

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Dismal shopping season
Overall, consumer spending, excluding car and fuel purchases, dropped an estimated 2 to 4 percent this month and last. Retail analysts are expected retailers to use after-holiday sales in order to survive the harsh economic slump.
Brendan Hoffman/Getty Images