Americans to Spend More Over Holiday Season
A survey by the National Retail Federation showed that U.S. consumers plan to spend an average of $688.87 on holiday-related shopping, Bloomberg News reported. Of the total, $518.08 will be spent on gifts.
Sixty-two percent of those surveyed said the economy would impact their spending, compared with 65% last year.
The U.S. economy is expected to grow by 2.6% this year and in 2011, according to a survey by the National Association for Business Economics.