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Analysts have pointed out that among the ultra rich, the short-term state of the economy has less of an impact on personal disposable income. Nevertheless, there has been a notable downturn in spending for luxury items such as premium cars, vacation homes, and personal items such as luxury watches. It is speculated that this may be because of the perception among wealthy individuals in Western countries that conspicuous consumption in the midst of an economic downturn would appear especially inappropriate.
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