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Consumer confidence, tracked since 1989, reached a record low of -38 in July 2008 - indicating that consumers had less confidence than ever before in the general economy and their personal finances. Year on year growth rates for February 2009 show a heavy decline for sectors ranging from consumer electronics to DIY and gardening, to depths as low as -11.5 per cent.2 Potentially, this could be seen as a self-fulfilling prophecy, with the continuation of a negative economic picture affecting consumers' confidence which consequently impacts on the total value of various durables markets.
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