US Survey Says Christmas Spend To Rise This Year

Americans plan to spend more on gifts this Christmas than in any holiday season in the past five years as economic optimism hits a post-recession high, according to the CNBC All-America Economic Survey.

The average American plans to spend $765 this year, up 12 percent versus last year, and about 6.5 percent higher than the average across the survey’s nine-year history. Behind the Yuletide cheer is an improved outlook for expected home values, wage gains and stocks—all three are at or above their highest levels since the 2008 recession.

The poll of 806 Americans nationwide was conducted by the Republican/Democrat polling team of Hart-McInturff over Thanksgiving weekend and has a margin of error of plus or minus 3.5 percentage points.

Sentiment has popped in the survey before only to retrace its gains, so the overarching question is whether it will stick this time. One reason for optimism is that the current numbers eclipse the old post-recession highs and have begun to approach precrisis levels.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza