WASHINGTON (dpa-AFX) - Americans are poised to spend moderately during the upcoming holiday retail season, according to a recent survey by Gallup.
The poll, conducted between October 2 and 23, finds Americans predicting they plan to spend an average $923 on gifts this season.
This is just short of an average $932 they estimated at the same time last year.
However, these figures are far higher than what was recorded in the first two years of the Covid pandemic. In 2020 and 2021, the public's holiday spending capacity fell closer to $800.
Respondents were asked roughly how much money do they think will personally spend on Christmas or holiday gifts this year.
35 percent of them replied that they plan to spend $1,000 or more, while 21 percent put it in the $500-$999 range.
Only 14 percent of respondents said they are going to spend less than $100.
Although on varying scales, most of Americans said they intend to follow gift-giving traditions for Christmas or other holiday gifts this year.
The poll was conducted as consumers continue to deal with moderate inflation, rising interest rates and reduced personal savings, while unemployment remains low and wages are improved in the United States.
While not necessarily a sign of a sales boon, it provides some additional reassurance that consumers won't sharply cut their holiday spending this year, Gallup says in its report.
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