Consumers intend to spend slightly less during the 2015 holiday season than in 2014, according to the 16th annual holiday spending survey conducted by CUNA and the Consumer Federation of America (CFA).
CUNA Chief Policy Officer Bill Hampel and CFA Executive Director Stephen Brobeck shared the survey results in a press conference Monday.
“Holiday spending this year is likely to rise by 2.5% to 3% from the 2014 level,” said Hampel, who also is CUNA’s chief economist. “Although positive, that would be a disappointing increase considering the improved financial condition of U.S. households.”
The survey, conducted Nov. 5-8, consisted of 1,000 responses–500 landlines and 500 cell phones.
Hampel said that consumers generally said they plan to reduce spending, even if the eventual numbers do not bear that out.continue reading »