Posted 12/6/2023, 7:24:00 PM
Holiday Spending Set to Surge to Record $975 Average Despite Economic Concerns
- Americans plan to ramp up holiday spending to $975 on average, a $100 increase from 2021 and the highest since Gallup started tracking in 1999
- Spending plans rose despite 71% of Americans rating economic conditions as poor in a recent CNN poll
- Gallup typically sees Americans lower holiday spending predictions between October and November, but that didn't happen this year
- Middle-income Americans led the increase, estimating they'll spend $200 more than last year
- Spending intentions rose more among women and adults under 35 compared to last year