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Holiday Bites: US Consumers’ Holiday Spending Expectations—Survey Update

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  • A substantial proportion of US consumers expect their total, final holiday spending to be lower than last year. However, some 48% expect their total holiday spending to be less than last year, down five percentage points from 53% last month, due to fewer consumers planning to spend a lot less.
  • Encouragingly, some 15% expect to spend more for the holiday season than last year, up seven percentage points from last month—the highest level we have seen in our weekly surveys since we started asking this question in July.