“Buoyant American attitudes on the economy look set to show up in plentiful, record-setting holiday spending this season,” Steve Liesman reports for CNBC. “The CNBC All-America Survey found that average holiday spending intentions will top $900 for the first time in the 12-year history of the poll, eclipsing last year’s estimate of $702 by a wide margin.”
“The survey of 800 Americans nationwide, with a margin of error of plus or minus 3.5 percentage points, found a surge in the percentage of Americans planning to spend more than $1,000, to 29 percent from 24 percent,” Liesman reports. “The survey found that more than 50 percent believe the economy is in good or excellent shape and that half believe it’s a good time to invest in stocks, the highest showing for both metrics in the survey.”
“The spending intentions appear to have been spurred by wealth and politics,” Liesman reports. “Those who believe the stock market will rise show above-average plans to increase their spending. And holiday spending plans by Republicans, which are often larger than Democrats, are far larger this year than last year.”
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