Economics
U.S. Holiday Sales Forecasts Vary on Savings, Stimulus Effects
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There’s little consensus among U.S. economists when it comes to forecasting holiday spending this year.
By one estimate from Gallup Poll, spending on gifts will drop 14.5% this season, with 28% of Americans saying they will spend less on presents than in 2019. Wells Fargo & Co., however, predicts that holiday sales will increase 9%, which would be the largest year-over-year gain on record.