Christmas Spending Projection Drops to 8 Year Low

Gallup reports that:

“Americans’ projected average Christmas spending this year, $616, is the lowest in Gallup’s 10-year history of tracking this question in its current format, and provides further evidence of the heavy toll the current economic turmoil is taking on America’s retailers.”

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Longstanding readers know I don’t place a lot of stock in these surveys — Why? Because what people do, and what they SAY THEY THINK THEY ARE GOING TO DO¬† are often worlds apart.

Survey:

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Hat tip Economix

Source:
Christmas Spending Projection Drops to New Low
Projected shopping at department stores takes biggest hit
Frank Newport
Gallup, November 19, 2008
http://www.gallup.com/poll/111976/Christmas-Spending-Projection-Drops-New-Low.aspx

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