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News Now

Washington
NEW: CUNA/CFA: Holiday Spending Expected To Increase This Year
WASHINGTON (11/27/13, UPDATED: 10:15 A.M. ET)--More consumers plan to increase their spending during this year's holiday season, and fewer consumers plan to spend less than they did last year, according to the 14th annual holiday spending survey conducted by the Consumer Federation of America (CFA) and the Credit Union National Association.

Since 2012, the percentage who said they would spend more than the previous year rose from 12 to 13, while the percentage who said they would spend less declined from 38 to 32. These changes continue the trend from 2011, when only 8% said they would spend more while 41% said they would spend less.

Nearly one-in-four (24%) said their financial situation was better this year than in 2012, while 29% said their financial situation was worse. The percentage of those who said it was worse was the smallest since CFA and CUNA began asking the question in 2009.

"The survey suggests that holiday spending will increase at least as fast as last year. It is also encouraging that fewer Americans see their economic status as worsening, despite on-going federal budget issues in Washington," CUNA Chief Economist Bill Hampel said.

Watch News Now for more on the spending survey release..


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