Gallup (U.S. polling firm): U.S. Holiday Gift Budgets Drop $229—Largest Since 2006
According to Gallup (U.S. polling firm), Americans now expect to spend an average of $778 on holiday gifts in November, $229 less than in October, representing the steepest decline in expectations in data going back to 2006.
Summary
U.S. consumer holiday spending expectations declined, with Americans estimating an average of $778 on gifts in November, down $229 from October, according to Gallup (U.S. polling firm). Gallup states this is the largest drop in expected holiday spending in data going back to 2006.
Terms & Concepts
- Holiday spending: Consumer expenditures on gifts and seasonal purchases during the end-of-year period.