More Spending Less On Holidays

Holiday shopping thanksgiving retail consumers spending CBS/AP

Americans are reining in their holiday spending this season, according to a CBS News/New York Times poll.

Thirty-five percent say they'll spend less on gifts than in the last few years – that's the highest number since 1991 when the country was still mired in an economic recession. Just 11 percent say they plan to spend more this year.



Read the full poll release here (.pdf).


Fifty-two percent of Americans say their holiday spending will be about the same.

HOLIDAY SPENDING NOW VS. THE LAST FEW YEARS

Now
Will spend more
11%
Will spend less
35%
About the same
52%

12/2003
Will spend more
19%
Will spend less
29%
About the same
52%

12/2001
Will spend more
9%
Will spend less
29%
About the same
65%

11/1991
Will spend more
12%
Will spend less
46%
About the same
40%

Spending expectations vary by group. Americans between 30 and 44 are the most likely to say they'll spend less, while those under 30 are the most likely to spend more.

Women are more likely than men to say they'll spend less.

As expected, Americans who earn less also plan to spend less. And those who think the economy is in bad shape will spend less than those who say the economy is good.

For detailed information on how CBS News conducts public opinion surveys, click here.


This poll was conducted among a nationwide random sample of 1,155 adults, interviewed by telephone December 2-6, 2005. The error due to sampling for results based on the entire sample could be plus or minus three percentage points.
  • Joel Roberts

Comments

CBSN Live

pop-out
Live Video

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.