American consumers are expected to spend more than what they spent last year for the upcoming holiday season, according to a recent survey conducted by Gallup.
The total amount that they are planning spend on Christmas or other holiday gifts this year averages $975 in Gallup's final 2023 reading, taken in November. This exceeds consumers' holiday spending estimate from a year ago by more than $100 and is the highest in Gallup's November measures historically since 1999.
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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.