Consumers Increase Their Holiday Spending Intentions Mid-Season

WASHINGTON, D.C. — The total amount Americans estimate they’ll spend on Christmas or other holiday gifts this year averages $975 in Gallup’s final 2023 reading, taken in November. This exceeds consumers’ holiday spending estimate from a year ago by more than $100 and is the highest in Gallup’s November measures historically since 1999. Americans’ November forecast for their holiday gift spending has more than recovered from the $616 low recorded during the 2008 financial crisis when it had tumbled by $250 from the year prior. Since then, it has generally trended upward, although it was fairly steady near $850 for the past four years before surging well past that this year. The latest figure, based on a poll conducted Nov.…