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Consumer confidence in the UK has fallen to the lowest in almost a year in July. The Consumer Confidence Index by market and consumer research company GfK/NOP fell three points to minus 22, below analysts' forecasts for a more modest decline to minus 20.
The survey was taken after the new coalition government announced the deepest spending cuts in a generation, but before official data showed the economy grew at its fastest pace in four years from April to June.
Experts say the continuing slide in the index makes the possibility of a double-dip recession greater as each month goes by.
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