Nov. 26, 2012: Surveys Point to Increased Holiday Spending

Projections for holiday spending are all over the map this year, with some projecting gains over year-ago results because of the slowly improving economy, while other predict consumers might be more cautious this year because of looming uncertainty over the so-called “fiscal cliff” and the potential for tax increases. About half — 49% — of consumers said they feel the economy is “weak, but slowly recovering from a recession,” according to Deloitte’s 2012 Annual Holiday Survey. That’s up from 32% who expressed that opinion a year ago. Similarly, only 37% agreed that “there’s been no recovery,” vs. 50% who expressed that opinion last year. According to the International Council of Shopping Centers Goldman Sachs 2012 Holiday Spending Intentions Survey, 64.8% of shoppers will spend at least as much this year as they did last year, with 24.2% of all shoppers saying they plan to spend “more” or “substantially more.”

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