A new Gallup poll released Monday shows that Americans plan to spend around the same on Christmas gifts this holiday season as they did last year.
According to the poll, which surveyed 1,008 adults November 5-8, the average amount Americans expect to spend during the upcoming holiday season is $638.
This is very close to the average of $616 that they said they would spend in a poll conducted in November 2008 and is the second-lowest average in nearly a decade.
In October, Gallup released a poll that had raised some hopes, as Americans in that poll said they would spend an average of $740 for the holidays.
Still, despite these numbers, there are some reasons for optimism. The poll also found that the number of Americans who plan to spend less this holiday season than they did last year dropped from 46% in 2008 to 34% in the latest poll.
The number of people who said they plan to spend the same as they did last year increased from 46% in 2008 to 57% in 2009, while the number of people who said they planned to spend more increased slightly from 7% in 2008 to 8% in 2009.
Despite the fact that the number Americans who said they plan to spend less dropped from last year, the 34% who said they would spend less still represents the second-highest number in the last decade.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.