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The latest Gallup poll reveals that Americans are spending about two hundred dollars less this year that last of Christmas.
Only 22% of national adults in the new survey said they would spend $1,000 or more this year on gifts, down from 33% in December 2007, and the lowest in any year since 1994. Intended Christmas spending is down compared with December 2007 among all income categories, although the drop has been particularly steep among wealthy shoppers (those in households making $75,000 or more per year) and middle-income consumers (in households making $30,000 to $74,999 per year).
The bottom line is that Gallup's 2008 Christmas spending data suggest Americans are highly reluctant to part with their hard-earned dollars right now, and, short of possibly capitalizing on deep holiday discounts and promotions, they show relatively little enthusiasm for Christmas shopping.
