Consumer Christmas Spending At 2007 Level

Couple with packages,shopping in city.

Americans are planning on celebrating Christmas like it’s 2007.

US consumers are planning on spending $862 on average on Christmas gifts this year, according to a survey conducted by Gallup in November.

That’s a huge jump from the $752 Americans said they planned on spending at this time last year.

Americans haven’t given such a high estimate for their holiday spending plans in any November since 2007 — just before the financial crisis and recession.

“Americans intend to spend more this holiday season than they have in a decade,” Lydia Saad, a senior editor at Gallup, wrote.    MORE

Designed by Reinhold Technology Solutions